Rights of Pleger
- Right to recover damages
Pledger can claim for the damages that arise due to pledgee’s negligence. He can also claim damages arising due to unauthorized use of goods.
2. Right to demand return of goods
The Pledger has right to get back the goods Pledged after as soon as the payment of debt is made. If Pledgee fails to return, the Pledger can claim for the compensation
3. Right to claim increase
The Pledger can claim any increase or profit, which may accrued from the Pledged goods.
4. Right to terminate Pledge
The Pledger has a right to terminate the Pledge if Pledgee does any act which is against the terms and conditions of Pledge.
5. Right to sue
Pledger can sue Pledgee if he fails to return goods or breaches contract.
6. Compensation
If the Pledgee without the permission of Pledger mixes the goods of Pledger with his own goods in such a way that it becomes impossible to separate them, the Pledger has a right to claim for the compensation for the loss of goods.
Duties of Pledger Following are the duties of Pledger
- Duty to disclose faults
It is the duty of Pledger to disclose all the faults in Pledged goods which are known to him. If he does not disclose them he will be liable for the damages arising due to such faults.
2. Duty to repay expense When the goods are to be kept or carried by the Pledgee. It is the duty of Pledger to bear all the expense incurred on the Pledged goods.
3. Duty to repay extra ordinary expenses If the extra ordinary expenses are incurred by the Pledgee on the Pledged goods then it is the duty of Pledger to repay those expenses.
4.Duty to indemnify for the defective title Where the title of goods to Pledger is defective and Pledgee suffers loss due to such title, it is the duty of Pledger to indemnify the Pledgee for such loss.
5.Duty to receive back goods It is the duty of Pledger to receive back goods when the Pledgee returns them after the accomplishment of purpose