Also known as: vadiatio · vadiation · pledge · gage · security
Written by attorneys · grounded in primary & secondary sources — see below
A historical pledge of property given as security for the performance of an obligation. The pledgor retains possession while the pledgee holds the property interest until the obligation is satisfied.
Select any source to read its text and confirm it supports the definition.
Virgil Vaughn conveys his farm to a lender through vadium to secure repayment of a loan. The lender holds title while Virgil retains possession and the right to redeem upon full payment. When Virgil defaults the lender initiates foreclosure to satisfy the debt from the property.
Valerie Viera agrees to represent a client in exchange for a vadium interest in the client's commercial building. The terms are disclosed in writing and the client receives independent counsel advice before signing. The arrangement creates a security interest adverse to the client that must meet fairness requirements.
Vance Vogel intentionally crosses onto land pledged as vadium by its owner to inspect the security. The owner holds possession and a protected interest in the property. Vogel's presence subjects him to trespass liability even without physical damage.
Vera Vu executes an irrevocable transfer of assets secured by vadium to a dependent relative. She must understand both the nature of the pledge and its impact on her future financial security. Lack of such capacity renders the donative transfer invalid.
Viktor Voronin posts vadium as security to support entry under a national security order. Courts apply rational basis review to the underlying restriction. The pledge remains enforceable when tied to a legitimate governmental purpose.
Vivid Media posts vadium to secure a preliminary injunction against a competitor. The court sets the amount to cover potential costs if the restraint proves wrongful. The United States is exempt from providing such security.
Vadium is the historical pledge of property as security. A mortgage is its direct descendant in which real property secures a debt while the mortgagor retains possession and redemption rights.
Supporting sources
Vadium mortuum transfers an estate in fee that becomes absolute upon default and is considered dead to the borrower. Vadium vivum allows the estate to remain living because its profits repay the debt until satisfied.
Supporting sources
Yes. A security device such as vadium must secure an existing or future obligation. If the obligation is void or discharged the vadium may be extinguished.
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