The 'Lectric Law Library's Lexicon On
* Vadium, Vadium Mortuum, Vadium Vivum *
VADIUM - A pledge, or surety.
VADIUM MORTUUM - A mortgage or dead-pledge; it is a security given by the borrower of a sum of money, by which he grants to the lender an estate in fee, on condition that if the money be not repaid at the time appointed, the estate so put in pledge shall continue to the lender as dead or gone from the mortgagor.
VADIUM VIVUM - A species of security by which the borrower of a sum of money, made over his estate to the lender, until he had received that sum out of the issues and profits of the land; it was so called because neither the money nor the lands were lost, and were not left in lead pledge, but this was a living pledge, for the profits of the land were constantly paying off the debt.
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