Security and Pledge – Formalities of the contract of pledge

Security and Pledge – Formalities of the contract of pledge

Art. 3149. Formal requirements of contract of pledge. The pledge of a corporeal movable is effective between the parties only if the thing pledged has been delivered to the pledgee or a third person who has agreed to hold the thing for the benefit of the pledgee. The pledge of other things is effective between the parties only if established by written contract, but delivery is not required.

Art. 3150 Acceptance. A written contract of pledge need not be signed by the pledgee, whose consent is presumed and whose acceptance may be tacit.