Radheshyam borrowed a sum of 50,000 from a Bank on the security of gold on 1.07.2019 under an agreement which contains a clause that the bank shall have a right of particular lien on the gold pledged

Question

Ishika · Answer

As per section 173 of Indian contract Act 1872 the pawnee may retain the goods pledged not only for the payment of the debt or the performance of the promise but also for the interest of the debt and all the necessary expenses incurred by him in respect of the possession or for the preservation of the good pledged

Manish · Answer

In this case, pledgor and pledgee make agreement of particular lien , so bank can't retain the gold

Manish · Answer

However pledgor and pledgee make a specific agreement, general lien can be taken away

Manish · Answer

Bank decision is valid,bank and other financial institute have right of general lien. They can hold the security until the amount of loan is not paid

Payel · Answer

But here the contract is done on particular lean!! So i think it's not valid. In the above ans I didn't notice ta former aggreement.

Payel · Answer

171*

Payel · Answer

Yes it is valid cause bank can apply genaral lean according to sec 170

Maanush · Answer

Anyone?

Radheshyam borrowed a sum of 50,000 from a Bank on the security of gold on 1.07.2019 under an agreement which contains a clause that the bank shall have a right of particular lien on the gold pledged

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