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For the purpose of pledge, delivery of possession of goods

A pledge is a bailment of goods as security for a debt (section 172 of the Indian Contract Act), and under section 149 delivery to the bailee may be made by anything that…

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For the purpose of pledge, delivery of possession of goods

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A pledge is a bailment of goods as security for a debt (section 172 of the Indian Contract Act), and under section 149 delivery to the bailee may be made by anything that puts the goods in his possession. Delivery can therefore be "Either actual or constructive", for example by handing over a railway receipt, as recognised in Morvi Mercantile Bank v Union of India (1965). No single mode, whether actual, symbolic or constructive, is compulsory.

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