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.
Civil Code
2015 English source edition · Current applicability not established.
This is the 2015 English-language edition attributed in its front matter to the Ministry of Justice. Eri Atlas has not independently verified the translation, later changes, or whether the text is currently in force. Nine passages are incomplete in the available scan and are identified where they occur.
Article 2512
Effect on Third Parties · Preserved transcription; page attribution imported from the source collection. Verify against the original.
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.