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CHAPTER IX OF BAILMENT · Bailments of pledges

Section 177: Defaulting pawner’s right to redeem

The Indian Contract Act, 1872

If a time is stipulated for the payment of the debt, or performance of the promise, for which the pledge is made, and the pawnor makes default in payment of the debt or performance of the promise at the stipulated time, he may redeem the goods pledged at any subsequent time before the actual sale of them1; but he must, in that case, pay, in addition, any expenses which have arisen from his default.

Footnotes in the official text

  1. 1.For limitation, see the Limitation Act, 1963 (36 of 1963), the Second Schedule.

Questions on this section

1 question in 5 of our papers cite Section 177. Try these from the free papers:

  1. 1. Under Section 177 of the Indian Contract Act, 1872, a pawnor who has made default at the stipulated time may redeem the goods pledged:

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