Differences Between Bailment and Pledge – A contract of pledge is a type of a bail contract. Both arise from an agreement between the parties to the contract and, after the object of the contract and the time period have been met, the goods handed over under the contract have to be returned. But, in spite of these similarities, there are important differences between the two, which are listed hereunder:
Difference Between Bailment And Pledge
|1||Object||The goods are generally delivered for care-taking or maintenance,or for a specific usage.||The goods are delivered to the pawnee as a security for the payment of a debt or the performance of a promise.|
|2||Right To Use||There is no restriction on the bailee from using the goods.||The pawnee does not have a right to use the goods.|
|3||Consideration||The bailee can get only particular or general lien on the goods in return for his lawful demands.||The pawnee has the right to sell the goods in case of non-payment of a debt.|
|4||Scope||Pledge is not included in bailment.||Bailment is included in a pledge.|
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