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What is Distinction Between Bailment and Pledge about?
Bailment refers to the transfer of personal property to another person for safekeeping or temporary use. A bailment creates a contractual relationship where the bailee has possession of the property and is responsible for reasonable care. The bailor retains ownership. There are bailments for mutual benefit of the parties, sole benefit of the bailor, or sole benefit of the bailee. Pledge is a special type of bailment where goods are delivered as security for a debt or obligation. Under pledge, the pawnee h
- Author
- Sayan Biswas
- Language
- EN