Notes of BCom CA And Finance, Business Regulation & Business Regulation 20220128_000945.jpg - Study Material
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nses ; The pawnee has a en from the, 3. Extra eee ce expenses incurred by him for Preservation S, pawnor, extra ordinary, the goods pledged.(Section 175) |, the pawnor , has a right., , If the pawnor makes q defaul,, , 4. Right in case of default of, in payment of the debt, the pawnee, , if inst the pawnor for the recovery of the amount due ty, uit agal, , (i) tobringas, him, i i 1, (ii) to sue for the sale of the goods in his possession and realise the money, il, , due to him. 3 ., (iii) sell the things pledged, after giving to the pawnor a reasonable notice, , of his intention to sell., , nt to meet the full claim of the, , re i fficie, If the proceeds of such sale are insu, eo he may recover the balance from pawnor, but if there is surplus, he, , must pay it over to the pawnor., , Duties of Pawnee or Pledgee, , The pawnee has to take reasonable care of the goods pledged, and, , iF, nauthorised use or mix the goods with his own, , should not make any u, goods., He should not do any act in violation of the terms of the contract of, pledge i.e., should not sell the pledged goods, without a reasonable, , , , notice to the pawnor., , , , 3. Return the goods to the pawnor when the amount of debt has been, paid by him., 4. Deliver any accretion to the goods pledged., 15. Pay the surplus of the proceeds of the sale of the goods pledged., , Rights of Pawnor or Pledger : The right of the pawnor are as follows, , 1. Right to get back goods : The pawnor is entitled to get back the goods, pledged by paying the debt or performing the promise. Before claiming the, goods he has to pay the interest due and other expenses incurred by the, pawnee., , 2. Right to redeem the goods: If a pawnor makes a default in the, payment of the debt or performance of the promise at the stipulated time, he, may still redeem the goods pledged at any Subsequent time before their, actual sale. But for this he must pay, in addition to any expenses which, have arisen from the default.. (Section 177), , 172