Bailment and Pledge - Difference l LAW | Asst. Prof. Nidhi Baglikar

Welcome back to the channel This video describes about the difference between Bailment and Pledge. Assistant professor Nidhi Baglikar defines bailment as a process when the goods are handed over from one person to another for a specific purpose, it is known as a bailment defined in Section 148 of the Indian Contract Act, 1872. The person who makes good deliver is known as the Bailor while the person to whom the goods are delivered is known as Bailee. Here the consideration may or may not be present. But here the party whose goods are being delivered has no right to sell the goods. The party whom goods are being delivered can use the goods for the specified purpose. Pledge When the goods are delivered to act as security against the debt owed by one person to another person, it is known as the pledge defined in Section 172 of the Indian Contract Act, 1872. The person who delivers the goods is known as Pawnor while the person to whom the goods are delivered is known as Pawnee. Here consideration is always present. But here The party to whom goods are being delivered as security has the right to sell the goods if the party who delivers the goods fails to pay the debt. The party whose goods are being delivered has no right to use the goods. Watch till the end Gurukpo.com is the fastest growing educational web portal where all kind of academic information/notes is available for free of cost. For more details visit http://www.gurukpo.com These Videos are produced by Biyani Group of Colleges Jaipur, a fastest growing girls college in India. Visit http://www.biyanicolleges.org and you can also subscribe to our Biyani Group Of Colleges channel for quality videos about Fashion Lifestyle, Entertainment, Extracurricular activities, college events, and many more useful topics. http://bit.ly/2FxQhNj Thanks for watching and commenting. If you like our video you can subscribe our Youtube channel and don't forget to hit the bell icon to get all the latest updates. ------------------------------------ #biyanigroupofcolleges #biyanicollege #gurukpo #bailment #pledge #contractofbailment #contractofpledge #Nidhi Baglikar ------------------------------------ Get Socialistic With Us:- Facebook:   / biyanigurukpo   Instagram :   / gurukpo   Website: http://gurukpo.com