Vivum Vadium
A Law Dictionary, Adapted to the Constitution and Laws of the United States · John Bouvier · 1839
A Law Dictionary, Adapted to the Constitution and Laws of the United States
or living pledge, in contracts, is when a man borrows a sum of money (suppose two hundred dollars,) of another, and grants him an estate, as of twenty dollars per annum, to hold till the rents and profits shall repay the sum so borrowed. This is an estate conditioned to be void, as soon as such sum is raised. And in this case the land or pledge is said to be living; it subsists, and survives the debt, and immediately on the discharge of that, results back to the borrower.
2 Bl. Com. 157.
See Anttchresis; Mortgage.