Hindu Law and Custom (Recht und Sitte) c8.102

c8.102

part even at the present day. The pledge is called Ādhi "deposit" or Bandha, Bandhaka "binding, bond". Hypothecation is not mentioned in Ancient Indian Literature,¹ there is only pledge of property, all the same whether it consists of immovable or movable properties. Of the various kinds of pledges those which may be enjoyed (bhogya) and those that are to be preserved uninjured (gopya) (Nār. 1, 125 etc.) are most important. Pledged immovable properties which may be used, such as for instance, a house, a field, a fruit garden, appear as a rule actually to have been used; the income made out of it was the interest. Also male and female slaves, oxen, cows and other house-hold animals are mentioned as usable pledges.