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Section 172 - Pledge pawnor and pawnee defined : Indian Contract Act 1872

What is Pledge? Who is pawnor and pawnee defined? Section 172 of Indian Contract Act 1872


 

Section 172 of Indian Contract Act 1872 : "Pledge pawnor and pawnee defined"

172. The bailment of goods as security for payment of a debt or performance of a promise is called "pledge". The bailor is in this case called the "pawnor". The bailee is called the "pawnee".

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