History of Dharmashastra (Ancient and Mediaeval Religious and Civil Law in India) v4.c63.586.2

v4.c63.586.2

The subdivisions of ādhi are made from several points of view viz. the nature of the property, the form of the pledge, the mention or non-mention of a period and the evidence to establish it. The Mit. on Yāj. II. 58 explains⁷⁰⁶ that the first kind of ādhi mentioned in Nār. IV. 124 contains the conditions that the money will be repaid at a fixed time and that if the money be not so paid at the time fixed the thing pledged or mortgaged will belong to the creditor. Yāj. II. 58 sets out three provisions viz. (1) when a time is fixed for payment, the thing pledged or mortgaged is lost to the debtor if the time fixed is allowed to pass without there being any repayment (whether it be an ādhi that is to be merely kept or whether it is one to be enjoyed); (2) but if no time be fixed the thing given as security is not lost to the debtor at all, when it is an ādhi that is to be enjoyed; (3) if no time is fixed and the ādhi is only to be kept (*gopya*) then it is lost to the debtor only if it is not redeemed even when the debt has grown to double of the principal by non-payment of the interest agreed upon. There is a period of fourteen days' grace after this, as stated by Bṛ. (S. B. E.⁷⁰⁷ vol. 33 p.