(M650) We often meet with after-pledge. The creditor, being in possession of the pledge, might traffic in its profits. If he held a house as pledge, he was not bound to live in it, but could sublet it. Hence he might pledge the rent of it. Or he could repay himself his loan by repledging the house to another. He could also pledge the loan which was due to him. This makes a rather complicated case. (M651) Thus L makes an advance _a_ to D and receives a pledge _p_. He may then pledge both _a_ and _p_. If these are given to two separate persons, _a_ to A and _p_ to P, then P has a cause for uneasiness. If D comes in and pays up _a_, he has a right to the pledge _p_ which is in P’s possession. But the money he advanced is not thereby paid to him. Further, A has a right to the money _a_ just paid in by D, which is all that is in evidence. Hence L will have succeeded in getting two sums, and unless he can succeed in realizing his investments of them, is called on to pay both A and P with one amount. Either A or P may suffer. But if L pledges both _a_ and _p_ to one man C, then C is quite independent of the relations of L to D. Now D simply has to pay C and gets his pledge back. C is sure of his money. (M652) Such a transfer of the responsibility of D from L to C was effected by handing over to C, with the pledge, also D’s bond to L. C now holds this bond, which, with his pledge, D wishes to get back. The following is a complicated case illustrating these points:(699) D had a house and pledged it to L, who lived in it. Two others were guarantees that D would repay the loan. The pledge was antichretic, “rent nothing, interest nothing.” Now L wanted money; so he pledged the house to C. But he did not wish to vacate. So he hired it of C, at such a rate that he would repay C’s loan in about five years. It is clear that this house was not good security for C, since D might turn out L at any time by repaying him. L would then owe money to C for which C had no security at all. But L in addition pledged all his own property, his slave, and all his goods in town and country. Further, he not only pledged the house, but handed over D’s bond to him. C thus held the house in after-pledge, and the advance with its security in pledge. He was therefore amply secured, since D must pay him.