Day: September 26, 2020

Fore closure: this is a court order which extinguishes the borrower’s equitable right to redeem the property. The interest of the borrower in the property is vested in mortgagee. Statutory power of sale: this is the right of the mortgagee Read More …

The pawnor is entitled to redeem the goods pawned within the stipulated time or if no time is fixed, within a reasonable time after demand for payment has been made. If the pawnor does not redeem, the pawnbroker has a Read More …

Characteristic of a pledge; There is delivery of possession from the Pawnor to the Pawnee. The right of ownership is the goods pledged as a security remains in the pawnor. A pledge is redeemable within six months, with seven days Read More …

Pledge This is a pawn It is the delivery of goods by a debtor to a creditor as a security for the amount borrowed or advanced to the debtor. Its salient feature is delivery of possession. The creditor acquires possession Read More …

Estoppel: Where the true owner holds out another person as owner and third parties rely on the representation to their detriment. Sale by factor or Mercantile agent: Such a sale passes a good title. Resale by seller in possession: this Read More …

Right to sell: under sec 14 (a) of the Act, it is implied that the seller shall have the right to sell the goods when property is to pass. Sale by description: under sec 15 of the Act, in a Read More …