Legal Definitions - impignoration

Definition: Impignoration (im-pig-n-ray-shon) is a historical term that refers to the act of pawning or putting something up as collateral.

Example: In medieval times, people would often resort to impignoration when they needed money. For example, a farmer might impignorate his land to a moneylender in exchange for a loan.

Explanation: The example illustrates how impignoration was used as a means of obtaining money in times when traditional banking systems were not yet established. By impignorating their property, people could secure a loan and then redeem their property once the loan was repaid.