Distinguish between bailment and pledge

Home  Articles  Contract of Bailment and Pledge 16212 Previous article ADM Jabalpur vs Shivkant Shukla (1976) 2 SCC 521 – Case Summary Next article Contract of Indeminity in India & UK Articles Indian Contract Act Contract of Bailment and Pledge Bailment and Pledge are two special contracts that are often confused. Every pledge is a bailment but every bailment is not pledge[1]. Bailment means a delivery of goods from one person to another for a special purpose. Whereas Pledge means delivery of goods as security for the payment of debt or performance of a promise. Therefore, Bailment & Pledge are two different contracts. Pledge is a special kind of bailment. Bailment A bailment is a special contract defined under section 148 of the Indian Contract Act, 1872. It is derived from a French word i. [4]Pyramid Finance Ltd v RamkrishanIyer, 2007 Cri LJ 1767 (Bom.) (Goa Bench). [5]A.I 1989 M. 28. [6] Illustration to section 163. [7]Retrieved from [8] A.I 1987 Cal. 46. [9]Lallan Prasad v Rahmat Ali, A.I 1969 Delhi 313,315. [10] T.R Kotagi v. Tehsildar, Gadag, A.I 1985 Kant. 265. [11]Retrieved from Sakshi Agarwal I am Sakshi Agarwal from Dr. Ram Manohar Lohiya National Law University, Lucknow pursuing B. L.L. (Hons.). Having no legal background, the inspiration to study law came from society and with the support of my parents, I became the path breaker of my family. Being in my initial years of college, all the subjects at present like Law of Contracts attract me but I always ke...

By Published on 9 Sep 2019 4:59 AM GMT I. Introduction 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. One such… I. Introduction 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. One such example is the case of “Bailment”. Bailment Contracts are stated in section 148 of... I. Introduction 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. One such example is the case of “Bailment”. Bailment Contracts are stated in section 148 of the Act, states that when any person delivers any goods to another ...

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Contents • 1 Introduction • 2 What is Bailment? • 2.1 Characteristics of Bailment • 2.2 Types of Bailment • 3 What is Pledge? • 3.1 Characteristics of Pledge • 3.2 Types of Pledge • 4 Differences between Bailment and Pledge • 5 Similarities between Bailment and Pledge • 6 Conclusion • 7 FAQs • 7.1 What is Bailment? • 7.2 What is Pledge? • 7.3 What is the main difference between bailment and pledge? • 7.4 Can a bailment involve the transfer of ownership? • 7.5 Can a pledge involve the transfer of possession? • 7.6 What is the purpose of bailment? • 7.7 What is the purpose of pledge? • 7.8 Can the pledgor redeem the property in a pledge? • 7.9 What are some examples of bailment? • 7.10 What are some examples of pledge? • 7.11 What are the rights and obligations of the bailee in a bailment? • 7.12 What are the rights and obligations of the pledgee in a pledge? • 7.13 Can a bailment be terminated early? • 7.14 Can a pledge be terminated early? Rate this post Learn the key differences between bailment and pledge in this informative blog. Understand the legal concepts, purpose, and rights and obligations of the parties involved in each process. Find answers to frequently asked questions and enhance your understanding of these important legal concepts. Introduction Bailment and pledge are two legal concepts that are often used interchangeably but are fundamentally different. Both involve the transfer of possession of property, but there are key differences between the two. Unders...

Introduction Whenever we opt for loans from any financial institution, for example, a bank we usually need to provide a security against the loan to the respective bank. These securities may be in different forms. Some types of such securities are discussed below. Pledge • Pledge has been defined in the Indian Contract Act 1872 (section 172). • It is a condition in which the lender (bank) holds the possession of the securities against the loan given to the respective customer. • In this case, the securities are movable in nature for example goods, certificates, gold etc. • Till the repayment of the loan is done the possession is kept with the bank preserved carefully. • If the loans are repaid on time the possessions are returned safely to its owner. • In case the customer is unable to pay back the loan on time, the bank has the right to sell the possession and recover the amount of loan given along with the interest. • A very common example for the pledge is Gold Loan. Bailment • In general terms, the bailment is the transfer of goods from one individual to another for a certain purpose mentioned in the contract which shall be returned or disposed of depending on the return conditions. In banking terms, this simply refers to loans. • Bailment is done in the presence of a contract which may be oral or in written form. • The delivery of the goods is temporary and is done only in case of movable items. • The individual who transfers the possession of the assets temporarily t...

Menu • Home • Top Stories • Our Courses • Opportunity • Call for papers • Conferences and Seminars • Course and Workshops • Debates • Eassy Competitions • Fellowships & Scholarships • moot court • Internships and Jobs • Quizes,fests and others • Our Services • About Us • Our Team • Blogs • Our Blogs • Guest Blogs • Case Analysis • Clat-Peeps This article is written by Shaheera Almas Sultana, pursuingBA LLB in NBM LAW COLLEGE, Vizag. What is the Meaning of Pledge? The word Pledge is defined as the goods being bailed in the form of security for payment of a debt or performance of a promise. The definition of pledge seems similar to the definition of bailment(goods are delivered on specific purpose from one person to another) but the pledge is considered as a special kind of bailment. The other word for the pledge is ‘Pawn’. The major difference between bailment and pledge is every pledge can be considered as bailment but every bailment cannot be considered as a pledge. An individual who delivers goods to another is called a Bailor. But in this case, the person who delivers the goods in the form of security for payment of a debt or performance of a promise is called a ‘Pledger’. The person who receives the goods is known as ‘Pledgee’ or ‘Pawnee’. The words“Pledge”, ” Pawner” and “Pawnee” are defined in Section 172 of the Indian Contract Act, 1872, which states that‘the goods being bailed in the form of a debt or performance of a promise, is termed as a pledge’. Example:- A sh...