Difference Between Lien And Pledge – Hello friends, today we are going to share Difference Between Lien And Pledge but before that we will share the meaning of both Pledge and Lien.
Pledge – According to section 172, the bailment of goods as security for payment of a debt or performance of a promise is called ‘ Pledge ‘.
Lien – It means the right of one man to retain that which is in his possession belonging to another until some debt or claim of the person in possession are satisfied.
Difference Between Lien And Pledge
|1||Origin||The origin is a statute.||The origin is a contract.|
|2||Object||The object is to retain the goods or property in possession of the holder until all the claims of the holder (of the lien) are satisfied.||The object is to provide security for the payment of a loan or the performance of a promise.|
|3||Right Of Sale||The holder of a lien can only retain the goods till his demands are met. He cannot sell the goods that he retains.||On the non-payment of a debt or non- performance of a promise,the pawnee has the right to sell the goods.|
|4||Termination||The lien terminates as soon as the holder releases the goods under his retention.||Termination is only on the payment of a loan or the performance of a promise Even if the pawnee returns the goods before the payment of a debt,his right does not terminate.|
You may also read and like
Disclaimer – If you need more pdf files, notes or book, then you can email us. Email has been given up. We will be able to help you as soon as possible. Please do not hesitate and mail us. You can also get assistance on social media especially on Facebook or Whatsapp. Our email address is [email protected], You can send message on whatsapp. Our whatsapp number is +91 7876021500 and for facebook user Click Here.