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What is Understanding Pledge in Contract Law about?

The document discusses the topic of pledge under contract law. It defines pledge as the bailment of personal goods as security for a debt. A pledge involves two parties - the pledger who deposits the goods and retains ownership, and the pledgee who receives possession of the goods as security for repayment of a loan. The essential elements of a valid pledge are that it involves movable property, the transfer of possession from pledger to pledgee, ownership remaining with the pledger, and the pledgee

Author

Jehangir Khan marwat

Language

EN