(1) The pledgor may assert against the pledgee the defences which are available to a personal debtor against the claim, as well as those to which a surety is entitled under section 770. If the personal debtor dies, then the pledgor may not invoke the fact that their heir has only limited liability for the obligation.
(2) If the pledgor is not the personal debtor, then they do not forfeit a defence by the personal debtor waiving it.