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Showing contexts for: sub-pledging in S.B.T vs The Commercial Tax Officer on 8 January, 2008Matching Fragments
of Goods Act, 1930. According to him, what is involved in pledge is only the transfer of special property. He would contend that Sale of Goods Act contemplates transfer of general property in goods, in order that there be a sale within the contemplation of the Act. In this connection he drew our attention to the following passage in Mulla on Sale of Goods Act.
"Thus, special property or interest exists so that the pawnee can compel payment of the debt, or can sell the goods when the right to do so arises. A pawnee's special property in the pledge may be assigned to a third person by an assignment of the pawnee's interest or by a sub-pledge made by him. The term 'special property' has, however, been criticised and the use of the word 'special interest' preferred, on the ground that when the pawnee's right to sell is examined, the so-called 'special property' which that right is said to create, is in truth no property at all."