Javaria Qais

The bailment of goods as security for payment

of a debt or performance of a promise is called
pledge

UNDER PLEDGE , one person transfers
possession of some goods to another to secure
the payment of debt or the performance of a
promise . In case of pledge the goods are
deposited as security to get a lone.
The bailment is the voluntary transfer of the
possession of goods by the owner to another
person, under a contract that such other person
shall hold them or return them to the owner or
deliver them according to his order.
Movable property
Limited interest
Transfer of possession
No transfer of ownership
Not mere custody


Right to retain
Right to retain for other debts
Right to extraordinary expense
Right to sue and sell
to take reasonable care of the goods pledged
Not to make any unauthorized use of the
goods pledged
Not to mix the goods pledged with his own
goods not to do any act inconsistent with the
terms of the contract
To return the goods pledged on receipt of his
full dues
To deliver any accretion to the goods pledged

Right to redeem
Right to claim damages
Right to claim increase
Right to redeem the debt
Duty of compensate
Duty to complete