Lеgal Aspects of Pledging The Movable Assets

Stošić, Slobodan and Petrović, Milica (2020) Lеgal Aspects of Pledging The Movable Assets. In: Prouzrokovanje štete, naknada štete i osiguranje. Institut za uporedno pravo, Beograd, pp. 507-517. ISBN 978-86-80186-58-0

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Abstract

Since the property liability of the debtor, as a rule, does not make the legal position of the creditor sufficiently secure, this increasingly creates the need to make this position more favourable. In this paper, we will refer to the right of pledge on movable assets as a means of securing the creditor’s claim. The collateral function is realized, through psychological and property, i.e. legal aspect. We believe that the existence of a pledge right exerts psychological pressure on the debtor. The debtor is aware of the fact that the debtor or another person will lose ownership of the asset or some other property if he does not fulfil its obligation. Therefore, the debtor, as a rule, approaches the fulfilment of the obligation with a greater degree of responsibility and conscientiousness than he would do if there were no such collateral. In the further presentation, the focus will be on the legal aspect, i.e. the legal effects produced by the constitution of a pledge on the movable assets. We shall analyse the features of manual pledge and registered pledge, as special forms of the pledge in positive law.

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