Sujoy Paul, BBA-LLB (Hons), Techno India University
ABSTRACT
In our day to day exchanges, we undertake various contractual transactions with various types of people for various reasons knowingly or unknowingly. Undertaking a contractual relationship has become so common that people hardly realize that what they are undertaking could have legal consequences. Bailment Contracts are stated in “section 148” of the Act, states that when any person delivers any goods to another person on a contract that upon a contract that after the purpose for which it was delivered is completed the goods shall be returned to the owner of that goods. It basically means that when goods have been given to someone for any use, then when that use has been complete then those goods have to be returned to the owner of the goods. The receiver of the goods shall have the sole responsibility of taking such care of the goods as if it’s the property of the receiver and shall be liable if the goods get destroyed. The word Bailment is derived from French word 'bailer' whish means to deliver. In the case of Pledge, as stated in “section 172”, is nothing but a special kind of Pledge. In this case, also the delivery of goods is there, but it differs from Bailment on the point of object of the delivery. In Bailment, the delivery of the goods is done for a performance of a promise. Until you will lean the meaning of Bailment its kinds, rights and duties of both Bailor and Bailee, you will also learn the meaning of Pledge, its difference with Bailment, and rights and duties of Pawnor and Pawnee.
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