Question

explain the essential elements of bailment and pledge

Answer 1

Every pledge is a bailment but every bailment is not pledge[1]. Bailment means a delivery of goods from one person to another for a special purpose. Whereas Pledge means delivery of goods as security for the payment of debt or performance of a promise. Therefore, Bailment & Pledge are two different contracts........

Answer 2

Answer:

Bailment is change of possession of goods, not transfer of ownership of goods as in sale.

Some of the essential elements of bailment are as follows:

i) Contract.

ii) Delivery of movable goods.

iii) Non-transfer of ownership.

iv) Purpose..

For more:

<a href= “ https://www.managementnote.com/essential-elements-of-bailment/”> Essential  Elements of Bailment</a>