A Pledgee is the entity involved in a pledge agreement that receives goods or assets as collateral for a loan or obligation. The pledgee is entrusted with certain duties to ensure the proper preservation and management of the pledged items. The following outlines the primary duties of a pledgee: Duty to Exercise Due Care for … Read more
The term finder of lost goods designates an individual who comes across and takes possession of items that belong to another individual, without any prior ownership or claim to those items. Legal provisions delineate specific rights and responsibilities for the finder, ensuring that the legitimate owner can recover the items while also safeguarding the interests … Read more
RIGHTS OF PLEDGER Right to Seek Damages: The Pledger is entitled to seek compensation for any damages resulting from the negligence of the Pledgee. Additionally, the Pledger may claim damages that arise from any unauthorized use of the pledged items. Right to Request Return of Goods: The Pledger has the right to reclaim the pledged … Read more
Background of Nepali Contract Law Definition of Contract Features Essential Elements of Valid Contract An agreement becomes enforceable by law when all the essential elements of a valid contract are present. Thus, absence of any of the above said elements is adequate to make the contract invalid. Plurality of Parties There must be at least … Read more