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Simple English definitions for legal terms
impignoration
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A quick definition of impignoration:
Term: Impignoration
Definition: Impignoration is an old-fashioned word that means pawning or putting something up as collateral. When you impignorate something, you give it to someone else as security for a loan or debt.
Verb: Impignorate
Example: He had to impignorate his watch to get the money he needed.
A more thorough explanation:
Definition: Impignoration (im-pig-n-ray-shon) is a historical term that refers to the act of pawning or putting something up as collateral.
Example: In medieval times, people would often resort to impignoration when they needed money. For example, a farmer might impignorate his land to a moneylender in exchange for a loan.
Explanation: The example illustrates how impignoration was used as a means of obtaining money in times when traditional banking systems were not yet established. By impignorating their property, people could secure a loan and then redeem their property once the loan was repaid.