This document discusses pledge and mortgage under Indian law. It defines key terms related to pledges, outlines the rights and responsibilities of pawnees and pawnors, and discusses situations involving limited property interests and default. It also examines the essential elements and types of mortgages, compares the differences between pledges and mortgages, analyzes relevant case laws, and provides a brief comparative study of pledges and mortgages under Philippine law before concluding.

2. PLEDGE
 Section 172. “Pledge”, “Pawnor”, and “Pawnee” defined
 Section 173. Pawnee’s right of retainer
 Section 174. Pawnee not to retain for debt or promise other than for which
goods pledged – presumption in case of subsequent advances
 Section 175. Pawnee’s right as to extraordinary expenses incurred

3.  Section 177. Defaulting pawnor’s right to redeem -
 Section 178. Pledge by mercantile agent -
 Section 178A. Pledge by person in possession under voidable contract -
 Section 179. Pledge where Pawnor has only a limited interest -

4. MORTGAGE
 What is Mortgage?
 Kinds of Mortgages
 Essentials of a Mortgage

5. DIFFERENCE BETWEEN PLEDGE AND MORTGAGE
 SECURITY
 OWNERSHIP OF THE PROPERTY
 POSSESSION OF THE PROPERTY
 SALE OF PROPERTY
 RIGHT OF FORECLOSURE

6. CASE LAWS
 MARDIA CHEMICAL CASE
 LALLAN PRASAD V. RAHMAT ALI AND ANR.

7. COMPARITIVE STUDY
 PHILIPPINES
 Art. 2085
 Art. 2086
 Art. 2087

8. CONCLUSION