The concept of pledge is dealt with in Section 172 and Section 179 of the IndianIndia Hind/ hend >hindia. Bharat Varsha (Jambudvipa used in Mahavamsha) is the name of this land mass. The people of this land are Sanatan Dharmin and they always defeated invaders. Indra (10000 yrs) was the oldest deified King of this land. Manu's jurisprudence enlitened this land. Vedas have been the civilizational literature of this land. Guiding principles of this land are : सत्यं वद । धर्मं चर । स्वाध्यायान्मा प्रमदः । The place also been called Hindusthan in Pesia. The word Hendu is mentioned in Avesta. Read more ContractContract An agreement enforceable by law is a contract. All agreements are contracts if they are made by the free consent of parties competent to contract, for a lawful consideration and with a lawful object, and are not hereby expressly declared to be void. Indian Contract Act. Act, 1872. In reality, in Mulla’s bookBook Council of Trent (1545–1563) the Catholic Church created a Congregation of the Index, to declare a writing dangerous and to burn it, till it exists without notice. For Christians, the Bible, and for Muslims Quran, is only good for human guidance and nothing else. After Jesus, St. Peter and St. Paul are the most educated persons in the Christian world. on Transfer of Property Act, for the term ”pledge”, it is described as under:-
“A pledge is a bailment of movable property by way of security. Possession is given and the transaction involves a transfer of special property in the subject of the security. A pawnee has no right of foreclosure since he never had absolute ownership at lawLaw νόμος: Positive command of sovereign or divine. One can be ruled either by a Statute, a Statue, or a Statement. Legislation is the rule-making process by a political or religious organisation. Physics governs natural law. Logical thinking is a sign of a healthy brain function. Dharma is eternal for Sanatanis. Judiciary > Show me the face, and I will show you the law. Some people know how to bend the law rather than break it. Law Practice. Read a scholarly article and his equitable title cannot exceed what is specifically granted by law. In a pledge the pledgee is in possession of and has a special property in the goods which he is entitled to detain to secure repayment.”
14. Section 172 of the Contract Act, provides that bailment of goods as security or payment of debt or performance of a compromise is called ‘pledge’. ‘Bailor’ is the ‘Pawnor’ and ‘Pawnee’ is the ‘Bailee’.
15. Section 148 of the Contract Act, provides that bailment is the delivery of goods by one person to another for some purpose, based on a contract that they shall, when the purpose of fulfilled, be returned or otherwise, disposed of according to the directions of the individual delivering them. The individual delivering the goods is called ‘Bailor’ and the person to whom the goods are delivered is ‘Bailee’.
