Who Is Pledgor and Pledgee?

A pledge is a bailment that conveys possessory title to property owned by a debtor (the pledgor) to a creditor (the pledgee) to secure repayment for some debt or obligation and to the mutual benefit of both parties.

Who is a pledger and pledgee?

Section 172 of the Act defines pledge as “The bailment of goods as security for payment of a debt or performance of a promise.” The bailor is called the 'pledger' or 'pawnor' and the bailee is called the 'pledgee' or 'pawnee. '

Who is pledgor in law?

a security transaction applicable to chattels under which the borrower (pledgor) gives possession of the chattel to the lender (the pledgee) as security for the payment of a debt or performance of an obligation.