Rishabh Bansal, BA LLB, Symbiosis Law School, Noida
ABSTRACT
The research aims to point the discrepancy of section 179 of the Indian contract Act, 1872, and how it is extremely detrimental to the interest of the sub-pawnee. It aims to acquaint the reader with the backdrop of what a contract of pledge is & then it moves to explaining section 179 as a whole and introduction of the related discrepancy. To have a deep analysis, the study compares the section with the foreign legislations and the legal provisions similar to that of section 179 of the Indian Contract Act, 1872. At the same time, the study provides some important case laws which are required for a better understanding of the section and where the sub-pawnee suffered through this discrepancy. In addition to this, the study calls for an action by the Indian legislation to protect the sub-pawnee which can be at huge loss if such a discrepancy is not resolved.
