pledged account
A mortgagor’s account pledged to a lender in return for a loan bearing interest at a below-market rate. [Cases: Pledges 5. C.J.S. Pledges § 8.]
A mortgagor’s account pledged to a lender in return for a loan bearing interest at a below-market rate. [Cases: Pledges 5. C.J.S. Pledges § 8.]