The bailment of goods as security for payment of a debt or performance of a promise is called “pledge”. The bailor is in this case called the “pawnor”. The bailee is called the “pawnee”.
CHAPTER IX OF BAILMENT · Bailments of pledges
Section 172: “Pledge”“pawnor”,and “pawnee” defined
Questions on this section
2 questions in 6 of our papers cite Section 172. Try these from the free papers:
1. Under Section 172 of the Indian Contract Act, 1872, the bailment of goods as security for payment of a debt or performance of a promise is called: