Contracts Act 1950 [Act 136]

131 Pledge by possessor of goods, or of documentary title to goods   cite [+]

A person who is in possession of any goods, or of any bill of lading, dock-warrant, warehouse-keeper's certificate, wharfinger's certificate, or warrant or order for delivery, or any other document of title to goods, may make a valid pledge of the goods or documents:

Provided that-

(a) the pawnee acts in good faith, and under circumstances which are not such as to raise a reasonable presumption that the pawnor is acting improperly; and

(b) the goods or documents have not been obtained from their lawful owner, or from any person in lawful custody of them, by means of an offence or fraud.

132 Pledge where pawnor has only a limited interest   cite [+]

Where a person pledges goods in which he has only a limited interest, the pledge is valid to the extent of that interest.

Suits by Bailees or Bailor againts Wrongdoers

133 Suit by bailor or bailee against wrongdoer   cite [+]

If a third person wrongfully deprives the bailee of the use of possession of the goods bailed, or does them any injury, the bailee is entitled to use such remedies as the owner might have used in the like case if no bailment had been made; and either the bailor or the bailee may bring a suit against a third person for such deprivation or injury.

134 Apportionment of relief or compensation obtained by such suits   cite [+]

Whatever is obtained by way of relief or compensation in any such suit shall, as between the bailor and the bailee, be dealt with according to their respective interests.

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