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PIGNORATIVE CONTRACT

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

civ. law. A contract by which the owner of an estate engages it to another for a sum of money, and grants to him and his successors the right to enjoy it, until he shall be reimbursed, voluntarily, that sum of money. In the civil law. A contract of pledge, hypothecation, or mortgage of realty.

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