179:12 As careful as one must be when watching an object left in his care, the lender must be even more careful looking after the collateral of a loan. This is because the lender is considered a paid watchman when it comes to the collateral. Just as one who is watching an object may not hand it over to another person to watch, as will be discussed in chapter 188, similarly a lender may not give the collateral over to another person or give it as collateral to a third party without the consent of its owner.

179:13 Let's say that someone lends money to another person against some collateral with the condition that if the loan isn't repaid by a given date, the lender will take possession of the collateral. In such a case he must be sure to specify at the time the loan is made, "If you don't redeem the collateral by date X, I will acquire it effective now."