Thursday, 11 August 2011

What are the rights and duties of pawnor and pawnee

Following are the rights of pawnor :

1. Right of Redemption :-
A pawnor has a right of redemption after depositing the dues.

2. Right of Suit :-
If pawnee makes unauthorized sale the pawnor has the right to file a suit against the pawnee.

3. Right of Proper Care :-
The pawnor can enforce the pawnee to do proper care and maintain the pledged goods.

Following are the duties of Pawnor :

1. Meet the Obligations :-
Pawnor must meet the obligations regarding the contract with in specified time.

2. Pay Extra Expenditure :-
He should also pay the extra ordinary charges.

Following are the rights of Pawnee :

1. Receipt of Payment :
Pawnee can retain the goods pledged until his dues are paid.

2. Retain for Other Debts :-
He has also right to retain the pledged goods for other debts taken.

3. Recover Other Charges :-
He has also right to recover the other charges like preservation of the pledged goods.

4. Sell the Goods :-
If pawnor fails to make payment then pawnee can sell the pledged goods after issuing the reasonable notice.

Following are the duties of pawnee :

1. Return of Goods :-
On the receipt of his dues he should return the goods.

2. Reasonable Care :-
He must do the reasonable care of the pledges goods.

3. Comply Terms :-
He should abide by the terms.

4. No Misuse :-
He should not make unauthorized use the pledged goods.

5. No Mixation :-
He should not mix the pledged goods with his own goods beard by the pawnee.


dogra namo 3 August 2016 at 10:27  

Pawnee not to retain for debt or promise other than that for which the goods are pledged.

Post a Comment

Google+ Followers

  © Blogger template Blue Surfing by Trade Cycle 2014

Back to TOP