New Commercial Law
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In our eReader you can find the full English version of the book. Read New Commercial Law Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book New Commercial Law
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In a pledge an essential element is that the property be in the possession of the pledgee. In a mortgage, the title passes condi- tionally to the mortgagee, whereas in a pledge the title remains in the pledgor. This is a kind of bailment which is for the benefit of both parties, since the pledgee procures new or additional security, and the- pledgor receives additional credit. This being the case, the bailee is bound to exercise only ordinary care, and is liable for ordinary negli- gence.
Use o...f Property. — The bailee generally has only the right to hold the property, and can use it only at his peril. If the nature of the- property, however, be such that use is necessary for its preservation, or- is beneficial, he may use it; but it is his duty to use it in a proper and BAILMENTS OF PERSONAL PEOPEBTT. 109 legitimate manner. In all cases he must account to the pledgor for all increase or profits derived from such use. If the pledge is of such a nature that it will be injured by use, no right to use it can be presumed.
What to read after New Commercial Law?
You can find similar books in the "Read Also" column, or choose other free books by A Norton Asahel Norton Fitch to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
In a pledge an essential element is that the property be in the possession of the pledgee. In a mortgage, the title passes condi- tionally to the mortgagee, whereas in a pledge the title remains in the pledgor. This is a kind of bailment which is for the benefit of both parties, since the pledgee procures new or additional security, and the- pledgor receives additional credit. This being the case, the bailee is bound to exercise only ordinary care, and is liable for ordinary negli- gence.
Use o...f Property. — The bailee generally has only the right to hold the property, and can use it only at his peril. If the nature of the- property, however, be such that use is necessary for its preservation, or- is beneficial, he may use it; but it is his duty to use it in a proper and BAILMENTS OF PERSONAL PEOPEBTT. 109 legitimate manner. In all cases he must account to the pledgor for all increase or profits derived from such use. If the pledge is of such a nature that it will be injured by use, no right to use it can be presumed.
What to read after New Commercial Law?
You can find similar books in the "Read Also" column, or choose other free books by A Norton Asahel Norton Fitch to read onlineMoreLess
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