A Treatise On the Law of the Contract of Pledge As Governed By Both the Common L

Henry Denis

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It is a departure from the sanctity of engagements. Had it been said in the opinion that, by the established jurisprudence of the Common law, the pledgee had the right to use the pledge, to subpledge or repledge * Donald vs. Suckling, L. R. 1 Q. B.. P. 617, Jones, on Pledges, Sec. 420.
204 The Law of Pledge.
it, and to transfer it to another party, criticism would have been out of place. But, to hold that the pledgee has violated the contract by the transfer and that the pledgeor has yet no rig...ht to demand the rescission, and, as a legal consequence thereof, to claim the res- titution of the pledge, is subversive of the fundamental principles of the law of contract. Those principles govern alike all contracts, the contract of pledge as well as the contract of hire. Would it be said, if a person liires my horse with the understanding that he shall only ride him two hours a day, and he rides him eight hours a day, there being thereby a breach of the agreement, I can not demand the rescission of the contract and the return of the horse ; and that I am relegated to a suit for damages?

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