1. Security by a pledge of property.
vadium mortuum (vay-dee-[schwa]m mor-choo-[schwa]m). [Law Latin “dead pledge”] A mortgage. • This was considered a “dead pledge” because an estate was given as security by the borrower, who granted to the lender the estate in fee, on the condition that if the money were not repaid at the specified time, the pledged estate would continue as the lender’s — it would be gone from, or “dead” to, the borrower (mortgagor).
— Also termed mortuum vadium. See MORTGAGE. [Cases: Mortgages
1. C.J.S. Mortgages §§ 2–6.]
vadium vivum (vay-dee-[schwa]m vI-v[schwa]m). [Law Latin “live pledge”] A living pledge, which exists when an estate is granted until a debt is paid out of its proceeds. • The pledge was so called because neither the money nor the lands were lost; it was a “living pledge” because the profits of the land were constantly paying off the debt.
— Also termed vivum vadium; vif-gage.
2. Wages; salary.
