Court : Chennai
Reported in : (1942)1MLJ44
..... would still continue to be under the same disability as before. further, the wording of section 178-a appears to indicate that by reason of the contract which is bad for fraud, undue influence, etc., the pawnor should obtain title to the goods and possession thereof in the strict sense, i.e., juridical possession such that an owner has. section 178-a ..... 178 and 178-a. new section 178 is confined to cases of mercantile agents. section 178-a says that if the pawnor obtains possession of the goods under a contract which is voidable under section 19 or 19-a of the contract act, then, a pledge by him would be valid if the pledgee had no notice of the want of or defect ..... right to be in custody and if it is voidable for reasons mentioned in sections 19 and 19-a of the contract act, even then, it cannot come under section 178-a, because it is not a case of the pawnor's getting a defective title or 'possession' as explained above. as messrs. pollock and mulla have pointed out in the latest ..... time, of the pledge. thus, section 178-a applies to cases where the pawnor obtained possession of the goods under a contract which is bad under sections 19 and 19-a of the contract act. here it is not a case where the pawnor obtained possession of the goods under a contract which is voidable for coercion, misrepresentation, fraud or undue influence which are the .....Tag this Judgment!
Court : Karnataka
Reported in : 2004(1)CTLJ494(Kar); 2004(2)KarLJ302
..... by the 1st defendant. therefore, we are unable to say from the facts that the appellant-bank can invoke the aid of section 178 of the contract act. so it is evident that in a case where the 1st defendant had neither custody nor possession nor title to the property, he can confer ..... the plaintiff in ordinary course would have realised by sale of goods pledged with it on the pawnor making a default in payment of debt'.7. the provisions of sections 178 and 178-a of the indian contract act, 1872 are extracted hereunder for convenient reference:178. fledge by mercantile agent.--where a mercantile agent ..... the time of the pledge notice that the pawnor has no authority to pledge.178-a. pledge by person in possession under voidable contract.--when the pawnor has obtained possession of the goods pledged by him under a contract voidable under section 19 or section 19-a, but the contract has not been rescinded at the time of ..... pawnee's right of lien over the pledged goods and preferential claim is recognised in law in sections 178 and 178-a of the indian contract act, on a qualified condition when the pawnee has acted in ..... the pledge, the pawnee acquires a good title to the goods:provided he acts in good faith and without notice of the pawnor's defect of title. 8. the .....Tag this Judgment!
Court : Kerala
Reported in : 2010(2)KLT563
..... has lawfully sold the subject of the pawn. the right to redeem a pawn is not barred by any statute of limitation during the pawnor's lifetime.14. chitty on contracts vol. ii, 29th edition, at page 244 notes 33-128 mentions as follows:power of sale at common law. if the pledger makes ..... and may recover damages for non-delivery.if the pawnee unlawfully deals with the pledge, as by sale, transfer or repledge, the contract of pawn is not thereby determined and the pawnor may not recover in conversion unless he has a right to immediate possession by redeeming the pledge. however, if the pawnee deals with ..... it was held as follows:so far as pledge is concerned, the right to sale is contained in section 176 of the indian contract act, 1872. it is as follows:if the pawnor makes default in payment of the debt, or performance; at the stipulated time or the promise, in respect of which the goods ..... these contentions were repealed and it was held as follows:but when reference is made to the next section 177 of the indian contract act which provides for the right of the pawnor to redeem the goods pledged at any time before the actual of them, it becomes clear that the words used in section ..... correct.9. it may be useful to refer to the relevant statutory provisions. sections 176 and 177 of the indian contract act reads as follows:176. pawnee's right where pawnor makes default - if the pawnor makes default in payment of the debt, or performance; at the stipulated time or the promise, in respect of .....Tag this Judgment!
Court : Karnataka
Reported in : ILR1993KAR240
..... pawnor to redeem the goods pledged.12.2. the pawn brokers act came to be enacted within the four corners of the provisions contained ..... which the business of a pawn broker should be carried on and how the rights and liabilities of the pawnor and the pawnee should be adjusted and settled. these aspects which are contained in the pawn brokers act are not found in the contract act. in specific terms, they are found in the judicial pronouncements which have been made while considering the ..... pawn broker or the rights and liabilities of pawn brokers and the pawnors are governed by the provisions contained in chapter ix of the contract act.12.1. section 176 of the contract act, deals with the right of the pawnee if a pawnor makes default. it specifically provides that if the pawnor makes default in payment of the debt, or performance at the stipulated ..... such sale are less than the amount due in respect of the debt or promise, the pawnor is still liable to pay the balance. if the proceeds of the safe are greater than the amount so due, the pawnee shall pay over the surplus to the pawnor. section 177 of the contract act deals with the question as to the default of the .....Tag this Judgment!
Court : Delhi
..... away the goods or its price. beyond this no other right was recognized in a pawnee in the above decision. under section 176 of indian contract act, 1872, if the pawnor makes the default in payment of the debt, or performance at the stipulated time, of the promise, in respect of which the goods were ..... defendant no.1 submitted that the plaintiff has no locus to file the suit as the plaintiff is not privy to the contract and as such the plaintiff is not pawnor and the pawnor is actually defendant no. 3 who is not before the court and the present suit filed by the plaintiff is thus ..... the pledged property. the pledged property might have been lost or destroyed and the fact is known to the pawnor. the pledged property might have earned yield or benefits which according to the contract is liable to be adjusted in payment of the loan amount in which case an account has to be taken ..... the debt." 64. the judicial opinion in the field is well settled that the notice under section 176 of the contract act is mandatory in nature and any sale affected without giving notice to the pawnor is vitiated and hence is void. in nabha investment pvt ltd (supra), this court had an occasion to examine ..... that the pawnee acts in good faith and has not at the time of the pledge notice that the pawnor has not authority to pledge. 178a. pledge by person in possession under voidable contract - when the pawnor has obtained possession of the goods pledged by him under a contact voidable under section 19 or section 19a .....Tag this Judgment!
Court : Kolkata
..... respect of which the goods were pledged. the first option granted to the pawnee under section 176 of the contract act, 1872 is that he may bring a suit against the pawnor upon the debt or the promise and retain the goods pledged as a collateral security. the second option being that the pawnee ..... proceeds of the sale are greater than the amount so due, the pawnee shall pay over the surplus to the pawnor. . section 176 of the contract act, 1872 allows the pawnee two options in the event the pawnor makes a default in the payment of the debt or the performance at the stipulated time of the promise in ..... , 1872 allows the pawnee to opt for the time of the sale. section 177 of the contract act, 1872 allows the pawnor to redeem the thing pledged upon payment of the debt due. the pawnor has a right to have the pledge sold property and its sale proceeds applied to the debt due. in a given case ..... in the first option given to a pawnee under section 176 of the contract act, 1872. the pawnee is at liberty to retain the goods pledged as collateral security and bring a suit against the pawnor upon the debt or promise if the pawnor makes a default in payment of the debt or the performance at the ..... to take any early steps for disposing of the pledged goods. section 176 of the contract act, 1872 was considered. it was held that, it was in the discretion of the pawnee to sell the goods in case the pawnor makes default but if the pawnee does not exercise his discretion no blame can be put .....Tag this Judgment!
Court : Guwahati
..... in a position to return the goods. 5. with regard to the right of pawnee where the pawnor makes default, section 176 of the contract act runs in the following terms: 'pawnee's right where pawnor makes default.-- if the pawnor makes default in payment of the debt, or performance, at the stipulated time of the promise, ..... the learned counsel for the parties, the points for determination in this appeal are :-- 1) whether the suit was maintainable in view of section 176 of the contract act? 2) whether the suit was barred by law of limitation? 4. let us now deal with the factual position of the case. it is not ..... is not entitled to a decree, and if the value of the pledged property is less than the debt, the pawnee will be entitled to sue the pawnor for the balance only after giving credit for the value of the goods. 9. in the present case, goods were pledged to the plaintiff-bank as ..... would be that he would recover the debt and also retain the goods pledged and the pawnor in such a case would be placed in a position where he incurs a greater liability than he bargained for under the contract of pledge..... if the pawnee is nota position to redeliver the goods he cannot have ..... in respect of which the goods were pledged, the pawnee may bring a suit against the pawnor upon the debt or .....Tag this Judgment!
Court : Supreme Court of India
Reported in : AIR1965SC1954; 35CompCas629(SC); 3SCR254
..... defect of title." after the passing of the indian contract (amendment) act, 1930 the legal position with regard to the pledge of railway receipts is exactly the same in indian ..... the goods; they were mainly concerned with the question whether an endorsee of a railway receipt for consideration could maintain an action on the basis of the contract embodied in the said receipt: see the firm of dolatram dwarakdas v. the bombay baroda and central india railway co. c); shah muji deoii v. ..... as if such lien or right did not exist." section 178a of the contract act states: "178a. when the pawnor has obtained possession of the goods pledged by him trader a contract voidable under section 19 or section 19a, but the contract has not been rescinded at the time of the pledge, the pawnee acquires ..... payment of a debt or performance of a promise" is called' a "pledge". the bailor is in this case called the "pawnor" and the bailee is called the "pawnee". according to s. |48 of the contract act "a bailment is the delivery of goods by one .person to another for some purpose, upon a ..... a good' title to the goods. provided he acts in good faith and without notice of the pawnor's .....Tag this Judgment!
Court : Chennai
Reported in : AIR1943Mad74; (1942)2MLJ120
..... 'goods'. before the passing of the sale of goods act, 1930, sales of goods were regulated by the sections comprised in chapter vii of the contract act, but the sale of goods act repealed the whole of the chapter. section 72 (one of the repealed sections) denned 'goods' as meaning ..... the letters patent.3. in the opinion of venkataramana rao, j., 'shares' are not 'goods' within the meaning of section 172 of the indian contract act and there can be no valid security unless the scrip is accompanied by an instrument of transfer. when a share certificate is handed over by ..... makes default in payment of the debt, or performance of the contract at the stipulated time, the pawnee may bring a suit against the pawnor upon the debt or promise, and retain the goods pledged as collateral security; ..... or he may sell them, on giving the pawnor reasonable notice of the sale. therefore under indian ..... contract that they shall, when the purpose is accomplished, be returned or otherwise disposed of according to the directions of the person delivering them. section 172 defines a pledge as the bailment of goods as security for the payment of a debt or the performance of an obligation. section 176 provides that, if the pawnor .....Tag this Judgment!
Court : Chennai
Reported in : 43Ind.Cas.31; (1917)33MLJ320
..... disposed to think that the statute cannot apply so as to make the mere possession by the mortgagee for 20 years a bar to redemption when the original contract is in terms that the mortgagor may redeem at any time during a period extending beyond the 20 years '.32. it appears to me therefore that the ..... of the period of limitation was the date of the transaction in suits to recover moveable and immoveable property alike, irrespective of the time fixed by the contract for such recovery and though the same provision was re-enacted in 1871, in the act of 1877 the starting point was altered so as to coincide ..... within 30 years from the date of the deposit, or pawn, though there may be a contract between the parties fixing a time before which the despositor or pawnor could not recover the property from the bailee. such contracts are likely to be rare and it is obviously convenient that questions of title to moveable property ..... redeem before the time limited for payment, now, there can be no question that he cannot do so unless he reserves such a right by the mortgage contract. no doubt it may be said that a mortgagor should not bind himself not to redeem for a long period, but a limitation act should not ..... while that right has been the subject of anxious protection in law so much so that an impediment to the fair exercise of the right even by a contract of the parties at the time of the transaction, i.e., a clog on the equity of redemption is not recognised. the indian legislature in section .....Tag this Judgment!