BAILMENT AND PLEDGE (INDIAN CONTRACT ACT, 1872)

Abstract

1Bailment & Pledge are examples of specific contracts. Indian Contract Act 1872 is not a comprehensive Act, dealing with all types of specific contracts. There are various other Acts which deal with specific contracts e.g., 2The Railways Act 1890, Carriers Act 1865 etc. The word bailment is derived from French word 'bailer'means "to deliver"
In law we use the term bailment in its technical sense which means change in possession of goods from one person to another. Pledge, on the other hand is bailment of goods whereby the goods are transferred from one person to another as security for payment about debt or performance about a promise. Pledge is different from bailment.