Bailment and Pledge - Difference l LAW | Asst. Prof. Nidhi Baglikar

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This video describes about the difference between Bailment and Pledge.

Assistant professor Nidhi Baglikar defines bailment as a process when the goods are handed over from one person to another for a specific purpose, it is known as a bailment defined in Section 148 of the Indian Contract Act, 1872.
The person who makes good deliver is known as the Bailor while the person to whom the goods are delivered is known as Bailee.
Here the consideration may or may not be present. But here the party whose goods are being delivered has no right to sell the goods. The party whom goods are being delivered can use the goods for the specified purpose.

Pledge

When the goods are delivered to act as security against the debt owed by one person to another person, it is known as the pledge defined in Section 172 of the Indian Contract Act, 1872. The person who delivers the goods is known as Pawnor while the person to whom the goods are delivered is known as Pawnee. Here consideration is always present. But here The party to whom goods are being delivered as security has the right to sell the goods if the party who delivers the goods fails to pay the debt. The party whose goods are being delivered has no right to use the goods.

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