Difference between bailment and pledge pdf

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difference between bailment and pledge pdf

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Origin of Writ In common law, Writ is a formal written order issued by a body with administrati The supreme court, and High courts have power to issue writs in the nature of habeas corpus , quo

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Difference Between Bailment and Pledge

The article analyzes the difference and comparison between Pledge and Bailment. In our day to day interactions, we undertake various contractual transactions with various types of people for various reasons knowingly or unknowingly. Undertaking a contractual relationship has become so common that people hardly realise that what they are undertaking could have legal consequences.

Bailment Contracts are stated in section of the Act, states that when any person delivers any goods to another person on a contract that upon a contract that after the purpose for which it was delivered is completed the goods shall be returned to the owner of that goods. It basically means that when goods have been given to someone for any use, then when that use has been complete then those goods have to be returned to the owner of the goods. Like, if A hands over her jewellery to B for polishing, and then the jewellery get stolen, then B shall be liable to A.

In this case since the jewellery was handed over to B for some particular purpose for polishing and temporary purpose, so it becomes the contract of bailment and A becomes the Bailor and B becomes the Bailee. The whole purpose of entering into the contract of bailment is to ensure that goods which are handed over to another person for any person shall be returned after the fulfilment of that purpose.

Now, in the case of pledge, as stated in section , is nothing but a special kind of pledge. In this case, also the delivery of goods is there, but it differs from bailment on the point of object of the delivery.

In bailment, the delivery of the goods is done for the completion of some purpose, but here the goods are delivered as some kind of security for a loan taken or for a performance of a promise. Like, suppose, A takes a loan from B for Rs 50, for a certain purpose. Now for the security of that loan B delivers the papers of his property to A so that A can ensure that B will return the money loaned or else he can sell off his property and recover his money.

Furthermore, he shall be liable if any damage happens to the good as he has the responsibility to take care of the goods in a reasonable manner. A gives his ring to B for safekeeping and he carelessly left it in the open.

Next day, he saw all his things along with the ring given to him by A have been stolen. The degree is that he should undertake reasonable care and the fact that he left the ring carelessly in the open shall the ground under which he can be prosecuted. Section of the Act states that when a bailment is done for the purpose of creating security for payment of any debt or for the performance of any contract then that kind of bailment shall be called as Pledge.

Pawn or pledge is a bailment of personal property as a security for some debt or engagement. Right to expenses [section ]: — When the bailee has to keep the goods of the bailor and in return, no compensation is given, then the bailee can ask for any necessary expenses which he has incurred for the performance of the bailment.

Right to sue [section ]: — Under this right, bailee can sue any person who has wrongfully deprived him of using the goods. Right to retainer [section ]:- This right entails that the pawnee can retain the goods till the time payment of the debt has been made.

Right to extraordinary expenses [section ]: — under this right, pawnee can claim any extraordinary expenses which he has incurred in maintaining and preserving the goods bailed by the pawnor.

Mercantile agent [section ] II. Pawnee can further pledge the goods to subsequent Pawnee provided he shall have the right to do so as per his interest on the property [section ]. Payment default In the case of bailment, the bailee can either retain the goods till the payment is made or can sue the bailor for his outstanding dues. In this case, if pawnor fails to pay the debt, the pawnee can sell the good entrusted upon as security to the debt. Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed. Introduction The article analyzes the difference and comparison between Pledge and Bailment. Related Posts. Responsibility of the Finder of Goods. Quasi Contracts and Claim for Compensation. Leave a Reply Cancel reply Your email address will not be published. In the contract of bailment, consideration may be involved or may be missing. It depends upon the contractual terms.

The main purpose of undertaking a bailment contract is for the main safekeeping of goods or for the repair. The main purpose of undertaking this contract is for ensuring security against the payment of the debt. In this case, the bailee can use the goods to the extent allowed by the bailor for the specified purpose only. Pledgee also exercises the lien over the goods but for the non-payment of the interest.

Right to extraordinary expenses [section ]: — under this right, pawnee can claim any extraordinary expenses which he has incurred in maintaining and preserving the goods bailed by the pawnor III. There is as such no bar or special provisions provided specifically mentioning who can or cannot enter into bailment.

In the case of bailment, the bailee can either retain the goods till the payment is made or can sue the bailor for his outstanding dues.

Bailment and Pledge

The bailment is the delivery of goods by one person to another for some purpose, upon a contract that they shall, when the purpose is accomplished. Here on MCQs. These MCQs on bailment and pledge in business law are useful for Competitive exams, Professional Accountancy exams and Business management exams. Forgot password? Sign up.

The article analyzes the difference and comparison between Pledge and Bailment. In our day to day interactions, we undertake various contractual transactions with various types of people for various reasons knowingly or unknowingly. Undertaking a contractual relationship has become so common that people hardly realise that what they are undertaking could have legal consequences. Bailment Contracts are stated in section of the Act, states that when any person delivers any goods to another person on a contract that upon a contract that after the purpose for which it was delivered is completed the goods shall be returned to the owner of that goods. It basically means that when goods have been given to someone for any use, then when that use has been complete then those goods have to be returned to the owner of the goods. Like, if A hands over her jewellery to B for polishing, and then the jewellery get stolen, then B shall be liable to A. In this case since the jewellery was handed over to B for some particular purpose for polishing and temporary purpose, so it becomes the contract of bailment and A becomes the Bailor and B becomes the Bailee.


1 of pledge, its difference with bailment,,tnd rlghrs and dur~es ot pawnof- mtl pawnee. iii) Purpose: In a bailment, the goods are delivered for some purpose.


Pledge and Bailment: Difference & Comparison

It mainly discusses the concepts of Bailment and Pledge. In law, the word bailment is used in its technical sense which means the change in the possession of goods i. On the other hand, Pledge is a kind of bailment in which one person bails his goods to another person as security against loans. Both bailment and pledge are examples of specific contracts.

Duty to indemnify bailee

There is plenty of example of Bailment in our day to day life. For the time being, in this article, we will study the difference between bailment and pledge. But before we go ahead let us first understand the meaning and definition of pledge and bailment in short so that their differences can be grabbed easily. The pledge is a type of bailment that means a bailment is a broad term whereas a pledge is a narrow term. The difference between bailment and pledge lies in their purposes of delivering goods or property from one party to another.

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Difference Between Bailment and Pledge | With Easy Examples

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  • philsandlin.org › Key Differences. Derek S. - 24.03.2021 at 02:07
  • Harm reduction guide to coming off psychiatric drugs pdf reporte de evauacion se cundaria pdf Kurt S. - 24.03.2021 at 03:26
  • It is the transfer of goods from one party to another party for some specific purpose. The main difference between pledge and bailment lies in the use of goods, i.e. the use of goods is prohibited in pledge, whereas in the case of bailment the party to whom the goods are being handed over can use them. Reireuphotinc - 24.03.2021 at 08:18

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