Page 104 - DMGT102_MERCANTILE_LAWS_I

Mercantile Laws-I Pooja, Lovely Professional University

Notes Unit 8: Contract of Bailment and Pledge

CONTENTS

Objectives
Introduction
8.1 Definition of Bailment and its Kinds

8.1.1 Definition of Bailment (S.148)
8.1.2 Kinds of Bailments
8.2 Duties and Rights of Bailor and Finder of Goods
8.2.1 Duties of a Bailor
8.2.2 Duties of a Finder of Goods

8.2.3 Rights of a Bailee
8.3 Termination of Bailment
8.4 Finder of Lost Goods
8.4.1 Right to Retain the Goods (S.168)
8.4.2 Right to Sell (S.169)
8.5 Pledge as a Special Kind of Bailment

8.5.1 Delivery Essential
8.5.2 Advantages of Pledge
8.6 Pledges by Non-owners
8.7 Rights and Duties of a Pawner and a Pawnee
8.7.1 Rights of Pledgee
8.7.2 Duties of a Pledgee
8.7.3 Duties of a Pledgor
8.7.4 Rights of a Pledgor

8.8 Summary
8.9 Keywords
8.10 Self Assessment
8.11 Review Questions
8.12 Further Readings

Objectives

After studying this unit, you will be able to:

z Discuss bailment and kinds of bailment
z State duties of bailee
z Describe pledge as a special kind of bailment
z Explain rights and duties of pawnee’s and pawners

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