Definitions from Black's Law Dictionary: 2nd Edition and Ballentine's Law Dictionary as are available for each term in each dictionary.
  • Ballentine's Law Dictionary

    To subject property as security for the performance of an act, with or without a transfer of possession. See 88 Cal. 437, 22 Am. St. Rep. 314, 13 L. R. A. 137, 26 Pac. 203.

  • Black's Law Dictionary: 2nd Edition

    To pledge a thing without delivering the possession of it to the pledgee. "The master, when abroad, and in the absence of the owner, may hypothecate the ship, freight, and cargo, to raise money requisite for the completion of the voyage." 3 Kent, Comm. 171. See Spect v. Spect, 88 Cal. 487, 26 Pac. 203, 13 In R. A. 137, 22 Am. St. Rep. 314; Ogden v. Lathrop, 31 N. Y. Super. Ch. 651.