Section 171 in The Indian Contract Act, 1872

Title: General lien of bankers, factors, wharfingers, attorneys and policy-brokers

Description: Bankers, factors, wharfingers, attorneys of a High Court and policy-brokers may, in the absence of a contract to the contrary, retain as a security for a general balance of account, any goods bailed to them; but no other persons have a right to retain, as a security for such balance, goods bailed to them, unless there is an express contract to that effect1. 1. As to lien of an agent, see s. 221, infra. As to lien of a Railway Administration, see the Indian Railways Act, 1890 (9 of 1890), s. 55.

Title: "Pledge", "Pawnor" and "Pawnee" defined

Description: The bailment of goods as security for payment of a debt or performance of a promise is called "pledge". The bailor is in this case called the "pawnor". The bailee is called the "pawnee".

Title: Pawnee's right of retainer.

Description: The pawnee may retain the goods pledged, not only for payment of the debt or the performance of the promise, but for the interest of the debt, and all necessary expenses incurred by him in respect of the possession or for the preservation of the goods pledged.

Title: Pawnee not to retain for debt or promise other than that for which goods pledged.

Description: The pawnee shall not, in the absence of a contract to that effect, retain the goods pledged for any debt or promise other than the debt or promise for which they are pledged; but such contract, in the absence of anything to the contrary, shall be presumed in regard to subsequent advances made by the pawnee.

Title: Pawnee's right as to extraordinary expenses incurred.

Description: The pawnee is entitled to receive from the pawnor extraordinary expenses incurred by him for the preservation of the goods pledged.