 Back again, we have Mr. S. Mukant, a senior advocate from the Rasbar Association, and we have done different aspects of the civil law, and we keep on getting requests from the views on YouTube, and otherwise also on the text. To have the deeper insights of any topic, why not call S. Mukant, who is also a regular resource persons for the purposes of judicial aspirants and young lawyers, and lawyers like me who would always like to learn from a person who is well versed with the facts. This bailment and pledge, which is contemplated under the Indian Contract Act, is a today's topic, and being a weekend, I will not take much time, and Mr. Mukant also doesn't need any introduction as such, except for the fact that few who would have missed the previous session, that he has been recently been designated as a senior advocate, which is a conferment of the fact that even the High Court acknowledges his knowledge. Over to you Mr. Mukant, and thank you for sharing your knowledge to us. Thank you. It is nice joining you Mr. Vikas after a long time. Today we shall venture into the topic of bailment and pledge. This is a very interesting topic, but we always see this only academically, but this has a lot of connection with our daily life, this bailment. We shall see how it is, because without bailment, we don't, I mean, there is no commercial activity at all. It is like, for example, I would say, even for going to buy a shirt, if we buy a piece of cloth, we give it to the tailor, get it stitched. What is the contract between us and the tailor? What happens here? Is it mere giving of the piece of cloth for stitching, or does it attract bailment? Or what if in case if he stitches free of charge, what if in case if he makes expenses alone and he is very good to you, he being a good friend, he says that no, no, no, I don't want any charges for stitching. So, how are you dealing with this? And again, we used to hire taxi, cabs, volar, mover, etc. What is the nature of transaction between them? Whether that come under bailment? All these things, again, we will see it in this beautiful chapter, that is chapter number 9. Bailment and Pledge are dealt under section 148 to 181 of which from 172 to 181 deals with Pledge alone. And the previous few sections deals with bailments. This session will be around for half an hour to 45 minutes. We can see all the aspects at a stretch now. The points that we are going to concentrate in this session are like this. See, what is bailment? What is the concept in bailment? Of course, essentials or ingredients as a student of law or an academic practitioner, we need to know what are the essential ingredients? And what should be the difference between a bailment and a sale and a bailment at the agency? What is the difference between bailment and a Pledge? And what is the difference between Pledge and a Hypartication? Pledge and mortgage. And of course, we shall also touch upon the duties of the respective parties, that is, who is giving the goods and who is taking the goods and who should not manipulate the goods. That is also there. So, these are all the broad aspects in which we shall deal. Of course, we are going to deal about the lien, concept of lien. So, what should be bailment? It is simple. It is simple. That is, bailment is nothing but giving one thing to another. It deals with movable properties. Giving, I am bailing it to you. I am giving this mobile for repair to the another person, to the expert concern. I am lending a pen to him. I am lending my car to him. If it is a friend, we give it for free. If we are doing it as a business, we give it for hire and get some challenges. So, this concept of bailment relates to a change of possession from one person to another, either for free that is gratuitous or for some payment. So, this is the concept of bailment. So, what does happen here? One, it is a change of possession. Correct? This is one thing. Bailment means giving of possession from one to another. This is one point. The second point is that it should be a voluntary transfer. It should not be involuntary. It should be voluntary. I must give it. I must give my cloth for stitching. If somebody snatches it, then that does not amount to bailment. And third, the third point in this is, this is always for a purpose. So, without a purpose, the bailment does not happen. If somebody takes it, it will be a fighter of lost goods. Snatching it, those things cannot come under the concept of bailment. So, three important things that a student of law must know regarding bailment are one change of possession from one person to another. That is, it goes. It is always a global property. Two, it is a voluntary transfer of possession from one person to another. And three, it is always for a purpose. The transfer of possession is for a purpose. What are all those purposes? We can see it like just giving the cloth for stitching, giving a car repair. Ten thousand kilometers if a car had run, then we give it for repair. We give it for some service that is bailment. Laptop repair. See the position of a courier agency. Courier, carriers, all these things are bailed. These are all the concepts coming under bail. See, we transport some goods from one place to another during shifting. What happens? Damages that occurs. Then who is liable? Putting it in the wagon. What happens if there is a damage he is liable? So, delivery of or transfer of a possession of some goods to an agency or a carrier, we give it to him. He brings it to us. If it is without damage, then okay. If it is with damage, then what is the cost? We will see. Now, in this background, what happens? We saw three elements in the way that is possession, voluntarily to be transferred, possession, voluntary and purpose. Now, what happens? It gives out a contract between these two parties. It creates a contract. You do not sign a contract, but it creates a contract. But of course, we sign a contract in the form of a bill. You book a courier, you get a bill. So, that becomes a contract. But what is the purpose? When the purpose is achieved, when the purpose is over, what happens? The person who had received the goods for certain purposes to perform something, once that performance is accomplished, then he is bound to return it back. Not in the same form, but maybe in a different form also. Getting the shirt, giving it a cloth, getting it as a shirt in a different form. So, when the purpose is over, one can reclaim the goods, reclaim his article. See, I have given my laptop for you. You are having it for several days, you give it back. You said it is 10 days, no matter. On the 10th day, you go. You already have paid some charges, some advancements. He says some 10,000 rupees. You have given him some 3000 rupees. He says you come on the 10th day. See, possession is handed over, purposes for repair, then the element carries. You ask him on the 10th day. See, you told me to come on 10th day. I have come on the 10th day. He says no, no, he will take another 10 days. Now, what is the option available to the person of the owner of the laptop? He can say nothing doing. You give it back to me. I want it. I will do it. I will take it somewhere else and do the repair. He is entitled to ask. Now, can he say that the shopkeeper, can he say, no, no, you pay 10,000 to me? I will return the laptop. The shopkeeper cannot say it. See, the purpose is not achieved. Bailment contains a purpose. The purpose is not achieved. So, he cannot claim that. These are all the things that we are going to see. Now, bailment attracts three points, but additional one point. What is it? One is delivery, purpose. It creates a contract and what happens? Return of force. So, four things must be there for payment, for a completion of that contract. Now, we will see as to what will be the delivery of force. There is nothing but transfer of possession from one person to another. And also, transfer can be by itself or through agent. Receiver, shopkeeper can himself receive or through his agent. So, delivery would include their agents also. And receipts will also include their agents. Now, we have to see another thing. You are going to a shopkeeper to buy a piece of cloth. He says, sir, I will stitch it and give it. You accept it. Okay, fine. You know stitching. Fine. I will give it to that vendor, vendor itself. He doesn't take the goods. The owner who purchases a piece of cloth doesn't take it. You go for taking, purchasing mobile. But instead, you have purchased it, you have paid it, everything is over. Now, he says, no, no, I will put some tamper glass and give it to you tomorrow. He says that he will give a fantastic cover. You don't take delivery of the goods, but you leave it to him itself. What happens? Whether the concept of payment comes into play, you answer within yourself. What happens? Yes, still bailman comes into picture. The relationship of a purchaser and the seller is now converted into bailar and bailing. Bailar is a person who gives it and bailing is a person who takes it. Now here, on the date of purchase itself, he retains that cloth. He says he will convert the cloth in a beautiful shirt and give it to you. Then that is constructive delivery. So, one is taking it and then giving it. This is one type of delivery. Two, the person who is selling it is having it. You don't take delivery of it, but instead the bailee or the person who is going to take the possession is already in possession of it. So, the cloth merchant is already in possession of it. He builds it to you and gives it to you. So, whatever if it is already in possession, then that is called constructive delivery. It is to be construed as delivery. What happens in service yet? There is one another concept called symbolic delivery. The banker comes, issues 13 to notice. After two months, the banker takes possession, but this is with respect to immovable property. We are now dealing with movable problems. He proclaims, yes, I have taken possession. What they call it under notice, they call it a symbolic possession. Like this here also, suppose if you want to give your car for repair, you just hand him over the key. You don't really take the car and give it to the car dealer, the service agent. Naturally, what happens from our house? He takes the car, pick up and drop facility. So, from the fifth floor of your apartment, you just ask him to come to the fifth floor, you just give him the car key, that's all. What happens? It means you have given the car itself. What is this type of delivery called? This delivery is called a symbolic delivery. So, one is physical delivery, actual delivery. You take it and go and give it to him, actual delivery. If that person is already having the possession of it, if you don't take it back and then bring it back to him, you don't take it home and then return it to him. If he is already in possession, that is called a constructive delivery. And if suppose you took it back, you took it to your home, after some 10 days, you wanted to give it for certain type of cosmetic changes in the car, you just give him the key alone. Then, that type of delivery is called a symbolic delivery. So, that delivery of goods, of a movable item can be in any manner. So, so far as constructive delivery is concerned, the sale is over. The purchaser and vendor, the seller relationship is over. Once you pay the money, that relationship is over. Now, you become the owner of the goods, but he is retaining. Then, another character between the two person comes into play, that is called bailar and baili relationship. He already has it. So, the seller becomes the baili automatically, the purchaser becomes the bailar. So, this is the thing. What happens in one another? Nice case, what happened? It is an old case where we used to study for examinations. We dealt about this symbolic delivery. See, you ask the goldsmith to come. It is a very precious, I mean, jewelry that you wanted to carve it out. You ask him, see, I will give it. Every day, you bring it to me, show it to me, put it in this box. I will keep the key. I will keep the key. You have the box. What happens? How are we going to deal this issue? In one case, what happened is, a lady gave some old jewels to be built in. She wanted to make it new. She called that jewelry person. She said that, okay, you do it, but every day we will see. She gave the jewels, the gold and ornament to him and she said that she would, once the day's work is over, okay, he says that it will take some 10 days time. Once the day's work is over, we must have to lock it, but I will retain it. The fellow said, yes, okay, no problem. But what happened is one day, the jewelry was missing. Now, this lady sued him. See, you were having in possession. I have delivered possession of it to you, but it was not found with the box. The court said, no, it is not a complete delivery. Where is the delivery? You have the key. You are given in the box. It is cannot, it cannot be deemed to be delivery. God dismissed her suit. So, leaving the box with the goldsmith while retaining the key will not constitute delivery in terms of section 149 of the contract. So, that is why I said, what is actually delivered? It should be, if it is given, you give the key and also hand over the car to him. You cannot keep the key and you should not allow, if you do not allow the person to take the car, then it cannot be deemed to be delivery at all. So, now, we saw that it is a type of a contract. That is why we are studying contract. It is a contract. It creates a contract between the parties. If it creates a contract between the parties, the elements of section 10 and 11, 10, 11 and 12 of the contract act should apply. It will apply. Competence of the party, consent between the parties. It should be for a lawful object. You cannot go and buy guns, deliver a gun without a license. What will happen? Yes, the fact may be like that, you would have delivered the gun for some repair, but for who authorised to hold, can it be treated as a proper delivery? So, this cannot be so. Section 10 of the contract act, suppose you snatched the gun from somebody and gave it to him. So, that would not attract as a proper delivery. It is against the public policy to hold gun in possession without a license. Now, what happens in this? What happens in this? An obligation arises out of a contract. The person who receives the goods must have to return it back. An obligation arises. See, in one case what happened is, in a railway platform, the goods were heaped in the platform itself. The owner of the goods had given it to the railway company for transportation. Unfortunately, a spark from the passing train damaged those cotton bins. As a result, the entire goods left in the platform were damaged. It became of no use. The person who had the bailout is entitled for compensation because the court said, there is an implied contract of obligation. Having you accepted the goods, you cannot keep it open. It is under your protection. It is under the railway's protection. So, in that case, an obligation arises for the person who receives the goods must also take care of the goods. So, naturally what we come to understand the duties, taking care of the goods is also becomes a duty. See, one another thing that we may have to note down in this case, that is, if it is for a sovereign function, in one case what happened is, there was some theft. The police found those articles and they kept it in the police station. While it was in the police station, somebody took it. Now, the owner files a case against the police station against the government asking that, see, you found the goods. You were having it. You are in possession of the goods. You lost it. Therefore, he claimed that the government is liable. The court said nothing doing. It is a sovereign function. It is not based on a contract. There is no implication of a contract arises here. It was a duty performed by the police. As a sovereign function, it was kept under the police custody and it was taken by somebody. It was not traceable. Even then, the action of police being a sovereign function, the state is not liable. So, we must know the character of the possession of the goods in case of theft. Now, what happens? Next concept is returning of the goods. So, what is the delivery? The purpose and the returning of the goods. In returning of the goods, the returning of the goods always, returning of the goods happens after some purpose is achieved. It can be returned or it can be disposed of according to the directions of the owner of the bailer. So, what happens here? We must have to see whether the goods are used. It may be sent for processing. It may be sent for some stocking purposes, just to stock it. It may be given for repairing. It may be given for alterations, etc., etc., etc. Or it can be given for disposing itself. You are giving some unused materials from your home to a person who takes these old materials. A shopkeeper, he used to take the old fridge, old ACs. You want to dispose it off. Either you sell it for 1000 rupees or you give it for free, asking, okay, either you use it or you sell it or whatever you put into any use. So, either the bailment is complete on return, either for the purpose being achieved or for disposal of goods. That is, the case laws are United Breweries Limited versus State of Andhra Pradesh. United Breweries Limited versus State of Andhra Pradesh, 1997, 3 SCC 530, 1997, 3 SCC 530. Another one is Kalyani Breweries versus State of West Bengal, Kalyani Breweries versus State of West Bengal, AIR 1998, AIR 1998, Supreme Court, page number 17. Now, we shall see the difference between the bailment and the sale and bailment and agency. What would be the difference? As we have already seen the definition concept. It contains possession. It contains ownership. It contains a transfer of possession. Now, so far as possession is concerned in bailment, the possession with the shopkeeper or the person who is asked to do some job on the goods is only temporary. Once the work is over, he must have to return it to us. So, in case of bailment, the possession is transferred temporarily. But in sale, what happens? The possession is transferred permanently. It is given to the other person permanently. In possession, in bailment, the ownership does not change. Ownership remains with the same person. But in case of sale, ownership changes. Now, the authority of the bailee. The bailee cannot sell. The bailee who had received the goods cannot sell. But in case of sale, that is transfer of ownership, he can sell. In case of bailment, service charges may apply. You give the shirt, you get it back. Service charges may apply. So, element of service is available in bailment and no such thing is available in sale. Another one more point there. A bailee can exercise leave if he is not paid. But in case of sale, entire ownership goes. The concept of leave will not apply except for unpaid vendor. Except for unpaid vendor, section 55, subsection 4 of the transfer of property act. So, these are all the points which can be collected for examination purposes to distinguish what is bailment and what is sale. Another one more thing that we may have to see is what would be the difference between bailment and agency? What should be the difference? Each one of them are possessing goods. What should be the difference? Again, possession. So far as possession is concerned, in bailment, the possession from one person to another person changes. It goes off the hand for some purpose. But in agency, possession need not do. You can still have a bike. You can ask that person to sell the bike for you. It will be at your home. It can be with yourself. Suppose that becomes bailment if you give the goods to, if he takes care of the, he keeps your bike for showing off to people so that who can see it and then attest it for attest right and then they can sell. So, it all depends upon how it takes. And what is the character? In case of agency, the agent represents the principle. He is in a representative capacity. But in case of bailment, there is no such thing. He is an independent person. He does the job for you for some charges. So, again, what about the transfer? A bailee cannot sell, but an agent can sell if he is authorized to sell the property. Miley cannot mortgage. Agent can mortgage. Again, another point, a bailee cannot contract with others with the goods. He gets the goods for some purpose. He must have to return it. He cannot contract. But in case of an agent, he can contract with your goods. What are all the type of contract that he can make? He can enter it to sell an agreement. He can enter a release. He can mortgage the property. So, many things that an agent can do, which the bailee cannot. Now, we have understood the concepts. Two more points that we may have to note down in case of bailments. One is, if it is for consideration, I give the shirt, I pay 500 rupees for staging charge for consideration. What is the situation? What is the situation if he does it for free? We do it for free. Now, two broad things can be, we can deal it in two situations. One, if he is willing to do it gratuitously, then he can ask for expenses alone. He need not ask for his stitching charge, but he can ask for certain materials applied for embroidering purposes. You get a car for hire or you get a car from your friend. You say that you will fill in petrol and then you will have some weekend round up and then come back. Yes, it is given gratuitously. If it is for hire, then it becomes a contract. If there are some, now we have to see one point. See, if you, the bailor, if I am giving the car to somebody, if I know that it has some defects in it, it cannot run for certain kilometers or it cannot run after certain kilometers or the brake has failed, then even I must have to disclose it, must have to disclose it. But if it is for hire, what happens? Whether you disclose it or not, you are liable. The person is liable. See, it is not that whether the question of disclosing it or not. See, I would have given the car for free even without my knowledge that there is a defect in it. Then the owner is not liable. If I purposefully give it, okay, let it get the dash and let it follow, get injuries, suffer some injury. In that case, with an evil mind if I give it, I am liable. Without knowing some defects if I give, then I am not liable. But that is not the case for hire. Whether once you accept that charge, voila, you work, you engage him and you pay him. You need not be bothered about whether it contains some inherent defect or not. Whatever damages that has been sustained, the person have to compensate the person who had suffered damages. Now, what is the relationship of a banker and the customer? Law says the relationship of a banker and customer is that of a debtor and creditor. See, money is also a paper like thing, you give it. There are laws says, there is no bailment here. You cannot, I have deposited some money into my account. I have given it with an understanding that you repay with interest. See, it is not bailment. It is a matter of a debtor and a creditor relationship. There is no relationship between a banker and a customer like that of a bailor and a bail. But that may change if there is a pledge that we will go in later. Now, few things that we may have to see as to what are all the duties that are available for the parties to enforce. One, you have to disclose the false in it. Two, if there are some extraordinary expenses, then that must be met. And one have to indemnify laws. And finally, they may have to take back the goods. These are all the things that the relationship between the bailor and the bailee, so far as they are giving and taking is concerned. Now, we will see one more thing. Lean, concept of lean. What is lean? Section 117 and 170 more. Lean. Lean means you are right to do retained goods. You are right to do retained goods when it is not a mere right to do retained goods. But he has a right to do retained goods if there is some due to be cleared. If there are some dues to be cleared, then he has the right to do retained goods. There are two brand categories. One is a general lean and witness a specifically, specifically or particularly anything that one can call. What is general lean? He can retain any goods till his account is set. That is on a day-to-day commercial transaction he can retain. But what is a particularly or specifically he can retain the goods what it is being given to him for certain purposes? I give a car. The car bill comes around 10,000 or 20,000 rupees. I do not pay that money. The dealer can retain my car. He cannot retain my bike. He can retain it only for that purpose. You have my car. Shirt for stitching, you retain my shirt. Jewelry for conversion, you retain the jewelry. What about lawyer? There were old cases where a lawyer is allowed to keep the bundle with himself if the dues are not paid. But Supreme Court later said, no, no, no, you have an obligation. You cannot retain the bundle of a client. I will also suggest the case law regarding that. Let us in one second. The lawyer's right to lawyer's lead is no more because of section 35 of the Advocates Act. It will amount to misconduct. Refusal to return the case bundle, even if he is spending, then it will amount to do professional misconduct. So, the lawyer cannot retain the bundle. Litigation papers cannot be equated to goods bill. That is what the Supreme Court says. So, litigation papers cannot be equated to goods bill. It is not a goods litigation papers. So, a litigant is entitled to change his lawyer. That is decided in 2000, volume 7, SCC 264. 2000, volume 7, SCC 264. And in 2004, 1 SCC page 117. 2004, 1 SCC page 117. It was indicated that a lawyer cannot retain the case bundle that should be given to the client. So, this is the thing. Now, suppose bailment can happen by giving the property to another, transferring the property, possession given like that. Fine. What will happen in case you leave a mobile or you leave a bag in the auto or car? And that person takes it. And that person is carrying it. It becomes an implied contract. The finder, that we call it a finder of lost goods. That you call it a finder of lost goods. Section 71 of the contract act, section 168 and 168 of the contract act will be of much use to know about the responsibility of the finder of lost goods. He is responsible to give it back unless the goods lost are of perishable items. Suppose, we bring some fruits, we left it there. The auto also did not know as who has left it. Two, three days or have one. The goods have started perishing. You can just throw it or take any of the consumer if it is in a situation to consume. So, but the responsibility remains with that person to return. But if he could not return, then he can use it. So, this is the simple concept. But what the law says, section 71 says, he must have to take necessary effort to find the person who had left the goods. Because it is not his, it is somebody's. So, but one more thing that we may have no doubt is, the finder of the lost goods who is attempting to find the actual owner is entitled for expenses. Suppose that the Karwala had dropped you, but by mistake you have left something. The usual course of business, the Karwala would have gone for to pick up another party and he would have been driving here and there for around 200 kilometers. Later in the day, he finds out, oh, it must be this man, I remember. So, for picking up the goods, he is entitled for the expenses. Or he can deduct the expenses and give it. So, these are all the things that we may have to note in case of a finder of lost goods that is he has, he can retain unless until the true owner is found. But he is not obliged to give it to somebody until the true owner is found, he can retain the goods. He has the right to do different things. If somebody claims the property except a true owner, he is entitled to defend. He is entitled to protect the property. He has the right to do lien for the expenses, right of lien. And he can sue for reward if it is proclaimed. If suppose if it comes in a paper that, okay, I have left some lakhs and lakhs of fees in the bag, whoever is delivering it to me will be entitled for 10,000 or 50,000. Then if it is proclaimed, then he is entitled. But if you see a change, he voluntarily gives it, but he does not know there was an advertisement. Then he is not entitled. He must be aware of the advertisement or he must be aware of the reward. And if he is aware, then he is entitled to ask for the reward. He has the right to sell also provided it is perishable goods, law says in section 169, it says if the value of the expenses, if the expenses occurred is more than two-third of the value of goods itself, then also he can sell it. So, these are all the concepts in bailment. We will just touch upon pledge. We have more minutes to complete. Okay, what is the concept of pledge here? There we saw bailar-baili terms. Here we call it a pwner and pwning. Okay, what is pledge? Pwner-pwning. Bailar is pwner. He gives it. Baili is pwning. What happens in pledge? It is nothing but like a mortgage, sir. For a movable property, you mortgage it. For what? There is a purpose. It is to secure repayment of money. You get a loan, want to have a house, you mortgage the property for money. Similarly, if you mortgage a movable property, then it is called pledging. So, the term used for mortgage is always with respect to movable property. The term pledge is used for movable property. It can be for two things. One, for securing money or for performance of a promise. For both the things, you can take pledge of the materials. Now, what should be the essentials of a pledge? Let us see that. Again, delivery, like bailar-baili concept. Here also, pwner-pwning concept comes in. So, delivery is most important. This is one concept, delivery. Two, voluntary delivery. Three, the purpose is security. So, security for repayment of the debt alone, it can be pledged. And the other factor is, the subject matter concern is the movable and not immovable. And another one more thing, like surfacing. What happens in surfacing? You take loan. You cannot mortgage this property. You cannot sell the property. If one sells the property despite the mortgage, what happens? The bank is entitled to enforce the mortgage. So, mortgage becomes the priority right to recover the payment. And the purchaser gets the property only subject to the mortgage. Similarly, in pledge also, if sort of gold or everything is pledged, but in spite of it, somebody sells it, then of course, possession will be with somebody, no doubt in it. But if somebody sells it, or you take the case of hypothecated bank, bus. The possession is not with the banker. So, far as if gold is pledged, it will be with a banker or some other finance company. But in case of bus or two-wheelers, cars, vans, etc., the possession is with us. So, naturally, even though it is pledged or hypothecated, what we call it in case of these vans and buses, etc., still the owner may enter into a deal with the third person and sell this van or car to another person. That case, the right to the purchaser is subject to the right available to the financier. That is most important. So, the right is only subject to the financial. So, what would be the difference with this wheel complete the session? Now, what is what would be the difference between a bailment and pledge? In bailment, it is for any purpose. You can give it for any purpose. But in pledge, one can give that delivery. That delivery can be for any purpose. Use it, destroy it, return it after some ornamentation, give it back. But in so far as pledge is concerned, it is only for the purpose of securing payment of loan. That is the purpose. That is the basic cutting of difference between pledge and the bailment. Now, in bailment, the bailee can use the goods. You give the shirt, he can use the goods. But in pledge, the party cannot use the goods. He cannot retain it for the purpose of as a security for repayment. In bailment, the lien will apply. Here, he excises the lien. Already, he gives that lien. Until repayment, he will not give it. But in bailment, he can excise. But he can excises only for the labour that he has put in. In pledge, it is inbuilt. You pay money and you get it. So, these are all the things that I wanted to point out. What would be the difference between pledge and a hypothetical? Possession. In pledge, the possession from one person goes to the banker or a financier. The jewelry goes to the banker or a financier. But in hypothecation, the owner has the position. I do not give the car or a bank to the banker. I take loan. I hypothecate these goods. I take back the car or a bank. So, the possession concept in bailment and pledge goes to the bailee, goes to the party. But in hypothecation, it is with the owner himself. So, the delivery concept will be present in bailing, in bailment and not in hypothecation. In pledge, it is a charge. It is a legal charge. But hypothecation is equitably charged. They call it equitably charged. So, these are all the broad differences that we have learned. Similarly as how a non-owner cannot deal it, a non-owner cannot pledge it. But where, in which circumstances a non-owner can pledge it, that happens in commercial agencies, commercial contracts. A pledge is allowed. A mercantile agent is allowed to pledge it. A co-owner can pledge. A person with limited interest can pledge. A person can pledge it after sale. I sold it to you. But if the seller himself is in possession, I sold it. But I retained possession. I said, you do have one week. He goes and pledges it. What is it? A buyer can pledge. So, these are all the aspects that we have now covered. I will just give a recapitulation of things that we have covered. That is one. Bailment and pledge is a very broad category in Chapter 9 of the Contract Act. It deals with Section 148 to 181. Bailment contains certain concepts. One is delivery, possession. Possession must be for transfer. That is, delivery must be voluntary and either for a reward or for disposal. These are various concepts. Now, we saw about, in delivery, we saw actual delivery, symbolic delivery and constructive delivery. And we saw some case laws also. We also, I also pointed out that this bailment creates a contract. It is a creation of contract and Section 1011, 12 of the contract act would apply. And whatever goods bailed must be written, there should be a purpose. We saw the difference between bailment and the sale and also bailment and agency. We saw two type of bailment. That is one for hire and one to take it for free. That is gratuitous bailment. What is the effect of that? And we saw, we touched upon the duties. A person who has taken the goods on bail, that is had taken the possession of the goods, must have to be enforced. Proper care is entitled for the expenses. He is to be indemnified and then he has to be paid the money on returning the goods. And of course, he cannot mix it and there may be certain conditions on bailment. See, you might have had a valuable post. One concept was there. I do not know whether it is available. You can give it to the postman saying that is like Amazon. The same thing. On payment, you give the goods. That is also there. That is also a type of bailment. We saw lien, general lien, specific lien. And what is the lien with respect to whether a lawyer can exercise lien or retain the case bundle? We saw that the lawyer cannot retain the case bundle. We saw about finer of lost goods, Section 71, 168 and 169 of the contract act. And later, we went on to Pledge. And we saw what is Pledge, the sanctions of a valid Pledge. And then we saw the difference of the bailment and Pledge. And also Pledge and Hypothecation, Pledge and Mortgage. So with this, we can, I hope, we can come to the end of the session. And I request Mr. Vikas to take over and complete the formalities. Thank you, Mr. Mukan. There are two queries. I will just take it out. One is, does lien on fixed deposit used like a pledge? No, because I saw some case, sir, one second. I have come across, I did not know it, no. It said the process that neither or survivor clause. No, it is not lien. I told it. It is a relationship of a banker, is that of a debtor and a creditor and would not, cannot extend the lien over fixed deposits for his customers. This is what Gokul asked, pursuant to a sale of movable goods. Goods are with the buyout with the lien, with seller for unpaid price. How can I affect the lien and take position? Yes, you are entitled. See, if it is an unpaid vendor, the concept of unpaid vendor is available. That is what you call it a lien. Lien means to retain the goods for the unpaid amount. You can always, if it is a movable, you excise lien. If it is immobile, you invoke the property act, transfer of property debt, section 55, subsection 4 and then the right of the vendor to retain the property. You cannot retain the property, you can file. It will act as a charge. There are some cases as well. Last question. Can you enlighten me a little about gratitudes and non-gratitude? Yes, gratitude is free. I mean, you let your bike to your friend there. But whereas, how would I say, the travel agents, they always work for higher. So, that you call it a gratitudes and non-gratitude. See, one thing that we may have to see in this gratitudes. If you take the car of your friend from Bombay to Delhi, you say that, no, no, I want to drive the car from Bombay to Delhi, you say. But on the same day, you change your plan and take the car from Bombay to Kerala, if some accident happens. Even if it is gratitude, then you are liable for the damages because the element of trust is broken. I wanted to just highlight, I will take this chance to tell you. So, you can always say, see, even if I drive from Bombay to Delhi, there is a chance of accident. You see that, see, you see other way around. If you drive from Bombay to Delhi, there could not have been an accident. That is also possible. So, it is a, the bailment is a matter of trust. If it is gratitudes, you don't pay money. If it is non-gratitudes, you pay money. That's all. Thank you, Mr. Mukant. And we will keep on sharing knowledge through you, as well as other resources. Do stay connected with us on the WhatsApp group. Thank you.