The Doctrine of Pledge Under the Pakistani Legal System: A Case Law Appraisal
Keywords:
Pledge, Pawnor, Pledgor, Pawnee, Pledgee, Mercantile Agent, BailmentAbstract
This paper discusses what is a pledge, the parties to a pledge, the rights and liabilities of the parties. The main findings of this paper are that can conclude that a pledge is a bailment of goods as security for repayment of debt or the performance of a promise. In this case, the bailor is called the pawnor while the bailee is referred to as the pawnee. The rights and liabilities of the pawnee exceed those of the pawnor. A pledge is a sub-species of bailment and the purposes for the delivery of goods by way of bailment. Thus, a pledge is a kind of bailment and security. The methodology of this paper is doctrinal.
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