stipulated time or 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 pledged as a collateral security; or he may sell the thing pledged
lost the
goods or was negligent in retaining the goods within
920
its custody or the Bank wrongfully parted with the goods
without the consent ... debtor pledging oil tins as and by
way of security for the advance and, therefore, two
securities were offered, namely, pledge of goods
bargained for under the ,contract
of pledge. The pawnee therefore can sue on the debt
retaining the pledged goods as collateral security. If the
debt ... pledgee, the pledgee denies the
pledge or is otherwise not in a position to return the
pledged goods he has to give credit
Indian Contract Act, 1872
179. Pledge where pawnor has only a limited interest.—
Where a person pledges goods in which he has only a limited
payment of the debt, or performance of the promise, for which the pledge is made, and the pawnor makes default in payment of the debt ... promise at the stipulated time, he may redeem the goods pledged at any subsequent time before the actual sale of them, but he must
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 ... respect of the possession or for the preservation of the goods pledged
place as to when it would like to
dispose of the pledged goods and that the only requirement is that before
that notice ... filed the suit for recovery of
the debt and retain the pledged goods as collateral security or in the
alternative could resort to selling
receipt as a symbol of goods making a
pledge of the receipt a pledge of goods, and in view of cl.
(3) of the notice ... into force. On the question whether a pledge of a document
is a pledge of the goods as distinct from the document, the
Judicial Committee
goods
is paid into the said account or goods of a
similar nature and of at least equal value,
are substituted for the goods ... pledged to the value of Rs. 35,690. It appears that under
the agreement, Ex. P-1 respondents 2 to 6 had pledged goods
which
pawnor extraordinary expenses incurred by him for the preservation of the goods pledged
