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Pledge

The document discusses pledge or pawn, which is the bailment of goods as security for payment of a debt or performance of a promise. It defines the parties involved in a pledge as the pawnor or pledger and the pawnee or pledgee. It also distinguishes pledge from bailment based on the specific purpose of pledge versus any purpose for bailment and the pawnee's inability to use pledged goods.

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Dulon Chakraborty
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65 views4 pages

Pledge

The document discusses pledge or pawn, which is the bailment of goods as security for payment of a debt or performance of a promise. It defines the parties involved in a pledge as the pawnor or pledger and the pawnee or pledgee. It also distinguishes pledge from bailment based on the specific purpose of pledge versus any purpose for bailment and the pawnee's inability to use pledged goods.

Uploaded by

Dulon Chakraborty
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

PLEDGE OR PRAWN

Sec.172
PLEDGE OR PRAWN (SEC.172)

◼ The bailment of goods as security for


payment of a debt or performance of a
promise is called pledge.1
PARTIES:

◼ Pawnor or Pledger:
◼ Pawnee or Pledgee
Distinction between Pledge and
Bailment:
◼ Pledge is bailment of goods for a
specific purpose where as Bailment is
for a purpose of any kind
◼ Pawnee cannot use the goods pledged
where as bailee can use the goods as
per terms of bailment

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