Common Contracts
2 similar Bailment and Pledge Agreement contracts
Difference between bailment and pledge pdfBailment and Pledge Agreement • March 28th, 2021
Bailment and Pledge are two special contracts that are often confused. Every pledge is a bailment but every bailment is not pledge[1]. Bailment means a delivery of goods from one person to another for a special purpose. Whereas Pledge means delivery of goods as security for the payment of debt or performance of a promise. Therefore, Bailment & Pledge are two different contracts. Pledge is a special kind of bailment. Bailment A bailment is a special contract defined under section 148 of the Indian Contract Act, 1872. It is derived from a French word i.e. “bailer” which means “to deliver”[2]. The etymological meaning of bailment is “handing over”or “change of possession of goods”. By bailment, we mean delivery of goods from one person to another for a special purpose on the contract that they shall reimburse the goods on the fulfilment of the purpose or dispose of them as per the direction of the bailor. The person who delivers the goods is known as bailor. And the person to whom the goo
Bailment and pledge notes pdfBailment and Pledge Agreement • March 16th, 2021
Bailment and Pledge are two special contracts that are often confused. Every pledge is a bailment but every bailment is not pledge[1]. Bailment means a delivery of goods from one person to another for a special purpose. Whereas Pledge means delivery of goods as security for the payment of debt or performance of a promise. Therefore, Bailment & Pledge are two different contracts. Pledge is a special kind of bailment. Bailment A bailment is a special contract defined under section 148 of the Indian Contract Act, 1872. It is derived from a French word i.e. “bailer” which means “to deliver”[2]. The etymological meaning of bailment is “handing over”or “change of possession of goods”. By bailment, we mean delivery of goods from one person to another for a special purpose on the contract that they shall reimburse the goods on the fulfilment of the purpose or dispose of them as per the direction of the bailor. The person who delivers the goods is known as bailor. And the person to whom the goo
