If the pledgor fails to pay the debt when due, what may the pledgee do with the property?
A pledgor has the right to have his pledged property returned to him upon payment of the debt secured by the pledge.
If the pledgor fails to pay the debt secured when due, the pledgee has the right to enforce his pledge.
Even in this event, the sale will not be held valid unless it is public and fair in every way to the interests of the pledgor.
The legal title or ownership of personal property pledged remains in the debtor or pledgor.
In selling pledged property what notice, if any, should the pledgee give the pledgor?
In a pledge, however, the possession passes to the pledgee or creditor, while the title remains in the pledgor or debtor.
In other cases, if the record remains unchanged, the pledgor can vote the stock.
A court of equity though may do this, and enjoin a pledgee from voting the stock whenever the pledgor's rights would be affected.