Question
Please need this answer in 1 hour. Hashim pledged his wrist watch valuing Rs.500,000 against the sum of Rs. 200,000 in favor of Kamran. It
Please need this answer in 1 hour.
Hashim pledged his wrist watch valuing Rs.500,000 against the sum of Rs. 200,000 in favor of Kamran. It was decided that the entire amount shall be paid on 01-01-2019 by Hashim, and the collateral shall be released by Kamran. On the said date Hashim could not pay back as decided and Kamran on 10-01-2019 sold out the watch against 600,000 to his friend Rashid. On 12-01-2019 Hashim went to Kamran along with the payment promised and demanded his watch back. Since the watch was sold out by Kamran, he filed a suit for the recovery of his watch in the Court of Law.
Required:
Whether Kamran was legally entitled to sell the watch, without serving a prior notice to Hashim. Support your answer by giving the provisions of the Contract Act 1872.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started