Rights of Pledgee or Pawnee is mentioned in under Secs. 173 to 176 of the Indian Contract Act 1872. A pawnee has the following rights under the Act: (1) Right to retain the goods pledged. (Secs. 173 and 174). (2) Right to recover extraordinary expenses incurred by him. (Section 175). (3) Rights of suit to … Read more
Ordinarily, it is the owner of the goods, or any person authorized by him in that behalf, who can pledge the goods. If a servant has the custody of the goods, or a tenant gets the possession of a furnished house, the servant cannot pledge the goods, nor can a tenant pledge the furnishing materials … Read more
Meaning of Pledge Section 172 of the Indian Contract Act, 1872, defines “pledge”, “Pawnee” or “Pledgee” as follows: “The bailment of goods as security for payment of a debt or performance of a promise is called ‘pledge’. The bailor is in this case called ‘pawnor’. The bailee is called the ‘pawnee’.” ‘Pledge’ or ‘Pawn’ is … Read more
Right of lien is the right of the bailee under which the bailee can retain the goods of the bailor, and refuse to deliver them to the bailor, until his due remuneration for services in respect of the goods bailed, or the amount due is paid. The Act recognizes two kinds of lien :(1) Particular … Read more
Position of finder of goods is explained in Section 71 of Indian Contract 1872. According to this section, a person who finds goods belonging to another and takes them into his custody, is subject to the same responsibility as a bailee. Since the position of the finder of goods is that of a bailee, he … Read more
Rights of bailee are provided in the Indian Contract Act 1872. Bailee has some rights against the bailor in a bailment. The bailee of the goods has the following rights under the Act: 1. Right to recover necessary expenses incurred on bailment. (Section 158). 2. Right to recover compensation from the bailor. (Section 164). 3. … Read more
Duties of bailee are provided in the Indian Contract Act 1872. Bailee has some duties towards the bailor in a bailment. Section 148 of Indian Contract Act 1872 defines ‘bailment’ as the delivery of goods by one person to another for some purpose, upon a contract, that they shall, when the purpose is accomplished, be … Read more
Duties of bailor are provided in the Indian Contract Act 1872. Bailor has some duties towards the bailee in a bailment. Section 148 of Indian Contract Act 1872 defines ‘bailment’ as the delivery of goods by one person to another for some purpose, upon a contract, that they shall, when the purpose is accomplished, be … Read more
Answer:- Bailment consists in delivery of goods, i.e., movable property, by one person, who is generally the owner thereof, to another person for some purpose. The goods are to be returned to their owner after the purpose is accomplished, or they are to be disposed of according to the directions of the person delivering them. … Read more
A surety has certain rights against the principal debtor, the creditor and the co-sureties. His rights against each one of them are being discussed hereunder : Rights against the Principal Debtor 1. Right of Subrogation (Section 140) When the principal debtor makes a default in the performance of his duty, and on such a default, … Read more