📝 One-liners · 66 cards
Contract of Pledge & Agency
What is a contract of pledge under the Indian Contract Act, 1872?
A pledge is a bailment of goods as security for payment of a debt or performance of a promise, where the bailor is called the pledgor and the bailee is called the pledgee.
What is the right of a pawnee to sell pledged goods on default?
Pawnee may sell after giving reasonable notice to pawnor.
Under what section of the Indian Contract Act is pledge defined?
Pledge is defined under Section 172 of the Indian Contract Act, 1872.
Under which section of the Indian Contract Act can a pawnee sue the pawnor for the debt?
Section 176 allows pawnee to sue and retain goods as collateral.
🔒
Unlock 66 revision one-liners
Interactive flashcard deck — flip every card to drill questions and answers, mark the ones you got wrong, and revise smarter for Contract of Pledge & Agency.
🪙
Unlock cost
300 coins
30-day access · re-unlocks free for 30 days