Section 177
Defaulting pawnor‟s right to redeem
Chapter 10: Of bailment
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 them2; but he must, in that case, pay, in addition, any expenses which have arisen from his default.
The Indian Contract Act, 1872 (Act No. 9 of 1872). From the updated text on India Code, with later amendments. Being checked against the official copy; amendment notes are not shown yet.
Related sections
- 174Pawnee not to retain for debt or promise other than that for which goods pledged
- 175Pawnee‟s right as to extraordinary expenses incurred
- 176Pawnee‟s right where pawnor makes default
- 178Pledge by mercantile agent
- 178APledge by person in possession under voidable contract
- 179Pledge where pawnor has only a limited interest