Civil Code · English · 2015
Article 2512
Effect on Third Parties
(1)
The contract of pledge shall not affect third parties unless the pledge is in the possession of the pledgee, or the person designated for the purpose by the parties, at the time when the pledgee invokes the contract.
#(2)
The contract of pledge shall be of no effect where at that time the pledge is still in the debtor’s possession or it has returned to his possession with the pledgee’s consent or it is in the possession of a third party from whom the creditor cannot demand its return.
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