The bailee is called the ‘pawnee’.”[1] In the case of Lallan Prasad v. Rahmat Ali[2], it has been said that “Pawn or pledge is a bailment of personal property as a security for some debt or engagement. Jul 8, 2020 | Editorial Of Contemporary Law, Research Articles, AUTHOR: Nivedita Sharma, 1st Year, National Law University, Jodhpur. In a case before the Delhi High Court,M.R. If the proceeds of the sale are greater than the amount so due, the pawnee shall pay over the surplus to the pawnor.”[5]If the pawnee decides to put the pledged goods up on sale, then if the amount restored is less than the amount loaned, the pawnor is liable to pay the remaining amount to the pawnee. “So as long as the actual sale does not take place, the pawnor is entitled to redeem the goods on payment of the debt.”[11]Although, if the goods are restored by the pawnor after the termination of the stipulated time period then the pawnor is liable to pay the expenses which have been incurred due to this default to the pawnee. 2017).

[8]In another case named Jaswantrai Manilal Akhaney v. State of Bombay[9], it was pointed out by the Supreme Court that, the special interest of a pawnee comes to an end as soon as the debt is discharged. Insanity as a Defence vis a vis the Indian Penal Code, Vakil Prasad Singh v. State of Bihar(2009) 3 SCC 355. It is now on the pawnor to decide whether to redeem the pledge by full payment of the amount for which the pledge had been made at any time if there is no fixed period for redemption or at any time after the fixed date and the right continues until the thing pledged is lawfully sold. [8] Dhani Ram & Sons v. Frontier Bank Ltd., AIR 1962 Punj 321. Following are the duties which if not fulfilled, can make pawnee liable: Negligence of the pawnee, or hypothecate resulting in the loss of goods that are pledged, may also discharge the Pawnees for the debt. In this article, we will focus on rights, duties and liabilities of a pawnee. It says: “The pawnee may retain the goods pledged, not only for payment of the debt or the performance of the promise, but for the interest of the debt, and all necessary expenses incurred by him in respect of the possession or for the preservation of the goods pledged.”[3] The rights of the pawnee are the duties of the pawnor. [7] Santi Sahu v. Sheogulam Sahu, AIR 1958 Pat 174. It was held by the court that the pawnor is entitled to take back with him this certain increase in the shares. The pawnee may no longer retain the deposited goods with itself once the debt is paid. Indian Contract Act defines a contract named ‘pledge’ under its section 172 which is a type of bailment in which the goods are delivered as a security for payment of a debt or performance of a promise. If a pawnor fails to fulfil the obligation of the repayment of the loan or the performance of a promise within the stipulated time, then this makes him liable and in turn provides the pawnee with the right to file a suit against the pawnor for the same.


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