History of Dharmashastra (Ancient and Mediaeval Religious and Civil Law in India) v4.c63.609

v4.c63.609

If an *ādhi* deteriorates⁷¹⁹ in value (i. e. becomes inadequate to meet principal and interest) or if it be lost or destroyed though proper care be taken thereof by the creditor, then the debtor must either pledge another adequate thing (in substitution) or the debtor should return the amount due (Yāj. II. 60, Kāt. 524). The Mit. on Yāj. II. 60 remarks that it follows from this that it is the duty of the pledgee to take proper care of the thing pledged. Bṛ. (S. B. E. 33 p. 323 verse 19) expressly says that the pledge has to be kept carefully like a deposit, as otherwise interest is forfeited in case of its being damaged. If a pledge which is to be kept only is enjoyed by the creditor, then the interest stops and if it deteriorates or is lost the creditor has to restore it to its former condition or substitute another of equal value; if a pledge to be enjoyed is lost or deteriorates by use then also the interest stops; and the creditor has to restore it, otherwise he will lose his principal (Yāj. II. 59 and the Mit. thereon, Nār. IV. 125, 127). If a pledge is lost without any fault or negligence of the creditor, but through fate (i. e. accidents like fire or flood) or the action of the king, the debtor has to furnish another pledge or to pay the amount due (Kāt. 523, Nār. IV. 126, 130, Yāj. II. 59, Viṣṇu Dh. S. VI. 6, Gaut. XII. 39, Bṛ., S. B. E. 33 p. 323 verse 21). From the time of Gautama⁷²⁰ (about 500 B. C.) onwards the rule about the care required of a pledgee, bailee, depositee was the same viz. that he is to take of another's property kept with him as much care as he would take of his own. Nār. (*nikṣepa* 14) and Yāj. II. 67 lay down the same rule for all kinds of bailments. Manu VIII. 189 (= Nār., *nikṣepa*, verse 12) illustrates what is meant by accidental loss.