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Section 177, Contract Act 1872: Defaulting Pawnor's Right To Redeem

Section 177 under the Chapter IX (Of bailment) of the Contract Act, 1872 of India - 'Defaulting pawnor's right to redeem', is reproduced hereunder:—

“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 them; but he must, on that case, pay, in addition, any expenses which have arisen from his default.”

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