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Section 177 - Defaulting pawnor's right to redeem : Indian Contract Act 1872

What is Defaulting pawnor's right to redeem? Section 177 of Indian Contract Act 1872


Section 177 of Indian Contract Act 1872 : "Defaulting pawnor's right to redeem"

177. If a time is stipulated for the payment of the debt, or performance of the promise, for which the pledge is made, and the pawnor makes default in payment of the debt or performance of the promise at the stipulated time, he may redeem the goods pledged at any subsequent time before the actual sale of them1; but he must, in that case, pay, in addition, any expenses which have arisen from his default.

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