Section 172
“Pledge”, “Pawnor” and “Pawnee” defined
Chapter 10: Of bailment
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”.
The Indian Contract Act, 1872 (Act No. 9 of 1872). From the updated text on India Code, with later amendments. Being checked against the official copy; amendment notes are not shown yet.
Related sections
- 169When finder of thing commonly on sale may sell it
- 170Bailee‟s particular lien
- 171General lien of bankers, factors, wharfingers, attorneys and policy-brokers
- 173Pawnee‟s right of retainer
- 174Pawnee not to retain for debt or promise other than that for which goods pledged
- 175Pawnee‟s right as to extraordinary expenses incurred