The Definition of Pledge in Language and Law, and Its Examples

The Shaykh : In language, a pledge (rahn) means detention, as indicated by the saying of Allah the Exalted: meaning detained. From this comes their saying, "stagnant water," meaning water that is stagnant and does not flow. In the Shari'ah, it is one of the contracts of security. Pay attention, my son, it is one of the contracts of security. The things by which rights are secured are four: testimony, pledge, guarantee, and surety. Let me repeat that: the things by which rights are secured are four: the first is testimony, the second is pledge, the third is guarantee, and the fourth is surety. If you wish, you may add a fifth, which is manumission. All of these are means by which rights are secured. For this reason, Allah the Exalted said: This is what secures the right. As for the pledge, it is when a person gives someone with whom he has dealt an item, saying, "This is pledged with you. If the debt comes due and I do not pay you, sell it and take your right from it." An example: A man borrowed one hundred thousand riyals from a person and said, "The pledge is my house." If the term comes due and he does not pay, the pledgee has the right to sell the house and take his right from it. Is that clear, everyone? Good.