THE CONCEPT AND FUNCTIONS OF PLEDGE AS A METHOD OF SECURING THE PERFORMANCE OF OBLIGATIONS

The article examines the concept and functions of pledge as one of the key methods of securing the performance of obligations, highlighting the relevance of the topic in the context of the rapid development of civil turnover and the increasing complexity of economic relations. The pledge serves as an important tool for protecting the rights of creditors and ensuring the stability of obligation-related relationships. The authors focus on the pledge’s securing, guaranty, and incentive functions, which play a significant role in strengthening trust among participants in civil turnover. The legal nature of the pledge as an institution at the intersection of contractual and property law is analyzed, emphasizing its uniqueness and the complexity of its regulation. Contemporary challenges related to legal practice are addressed, including maintaining the balance of interests of the parties, issues with the realization of pledged property, and the need for modernization of legal regulation.