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What is Understanding Bailment and Pledge about?

Bailment is the delivery of goods by one person (the bailor) to another (the bailee) for a specific purpose, such as repair or safekeeping. Ownership remains with the bailor, and the bailee must return the goods once the purpose is fulfilled. A pledge is a type of bailment where goods are given as security for repayment of a debt; if the debt is not repaid, the pledgee can sell the goods. The key differences are that in a pledge the purpose is security for a debt, and the pledgee can sell the goods upon def

Author

Ayush Gupta

Language

EN