Bailment & pledge

 

  

Section 148 Delivery of goods by 1 person to another for some purpose …contract: to return after use or to dispose as asked by the person who delivered the goods Bailor: who gives Bailee : who takes Bailment: transaction

Examples:    Hiring a bicycle Giving cloth to a tailor Delivering watch for repair .

Kinds of bailment     Based on benefit: Bailment for the exclusive benefit of :1] bailor: leaving goods in safe custody without paying 2] bailee :a loan of some article like a pen 3] mutual benefit: contracts for hiring. repair .etc .

example: hire. example: lending a book to a friend 2] non-gratuitous bailment: bailment of reward: either bailee or bailor is entitled to a remuneration . etc .Kinds of bailment:    Based on reward: 1] gratuitous bailment: neither bailor nor bailee is entitled for remuneration. tailor.

Difference between sale & bailment    Ownership transferred? Buyer under no obligation to return goods? Ownership not transferred? .

Difference between bailment & licence     Permission to use place? No delivery of goods? Responsible for safety of goods? Goods delivered? .

fails to return.Duties of bailee:      Take reasonable care of goods[S.151] Not to make unauthorized use of goods[S. has to pay price of horse} Duty to return any accretion to goods {cow + calf} . horse dies.154] Not to mix goods with his own goods Duty to return goods {A hires a horse for 4 days.

Duties of bailor:      Disclose faults in goods Repay necessary expenses in case of gratuitous bailment. feeding expenses for the horse kept in safe custody Repay extraordinary expenses in case of non-gratuitous bailment.... If A gives his neighbor's scooter to B Duty to receive back the goods . If horse falls ill during bailment period then giving expenses Duty to indemnify bailee.

100 from B & keeps his watch as security : pledge .PLEDGE OR PAWN      Bailment of goods as security for payment of debt or performance of a promise :PLEDGE Bailor: PAWNER Bailee: PAWNEE Example: A borrows Rs.

no right to sale? RIGHT OF USING THE GOODS: no right? .Difference between bailment & pledge:    PURPOSE: security? . repairs? RIGHT OF SALE: sale on default? .

174}: on lending money to same debtor without further security .173}: right to retain goods until dues paid Right of transfer for subsequent advances: {S.right to retain earlier goods extends Right to extraordinary expenses {S.175} Right to sue the pawner or sell the goods on default. .Rights of Pawnee:     Right of retainer{S.

Rights of Pawnor:   Enforcement of pawnee’s duties Defaulting pawnor’s right to redeem .

Sign up to vote on this title
UsefulNot useful