Defaulting pawner’s right to redeem If a time is stipulated for the payment of the debt, of performance of the promise, for which the pledge is made, and the pawnor makes default in payment of the debt or performance of the promise at the stipulated time, he may redeem the goods pledged at any subsequent […]

Pawnee’s right where pawnor makes default If the pawnor makes default in payment of the debt, or performance, at the stipulated time of the promise, in respect of which the goods were pledged, the pawnee may bring a suit against the pawnor upon the debt or promise, and retain the goods pledge as a collateral

Pawnee’s right as to extraordinary expenses incurred The pawnee is entitled to receive from the pawnor extraordinary expenses incurred by him for the preservation of the goods pledged. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return

Pawnee not to retain for debt or promise other than that for which goods pledged. Presumption in case of subsequent advances The pawnee shall not, in the absence of a contract to that effect, retain the goods pledged for any debt or promise other than the debt or promise for which they are pledged; but

Pawnee’s right of retainer The pawnee may retain the goods pledged, not only for payment of the debt or the performance of the promise, but for the interest of the debt, and all necessary expenses incurred by him in respect of the possession or for the preservation of the goods pledged. Practice area’s of B

“Pledge” “pawnor”, and “pawnee” defined 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 the “pawnor”. The bailee is called the “pawnee”. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax

General lien of bankers, factors, wharfingers, attorneys and policy-brokers Bankers, factors, wharfingers, attorneys of a High Court and policy-brokers may, in the absence of a contract to thecontrary, retain as a security for a general balance of account, any goods bailed to them; but no other persons have a right to retain, as a security

Bailee’s particular lien Where the bailee has, in accordance with the purpose of the bailment, rendered any service involving the exercise of labour or skill in respect of the goods bailed, he has, in the absence of a contract to the contrary, a right to retain such goods until he receives due remuneration for the

When finder of thing commonly on sale may sell it When a thing which is commonly the subject of sale is lost, if the owner cannot with reasonable diligence be found, or if he refuses, upon demand, to pay the lawful charges of the finder, the finder may sell it—(1) when the thing is in