Section 177 of ICA : Section 177: Defaulting Pawnor'S Right To Redeem

ICA

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Explanation using Example

Imagine John takes a loan from a pawnbroker, offering his watch as a pledge. The agreement states that John must repay the loan by the 1st of June. If John fails to repay by that date, he still has the right to get his watch back at any time before the pawnbroker sells it, but he'll also have to cover any additional costs incurred by the pawnbroker due to the delay.

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Explanation using Example

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