The pledgee is not obliged to surrender the pledged item to a pledgee ranking behind them for the purpose of sale. If they are not in possession of the pledged item, then they may not, unless they themselves handle the sale, object to sale by a lower-ranking pledgee.
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Book 3 · Law of property › Title 1 · Pledge of movable things › Section 1232
Lower-ranking pledgees
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