The relationship between a pledger and a pledgee arises when goods are delivered as security for the repayment of a debt or performance of a promise. Under the Indian Contract Act, 1872, a pledge is a special kind of bailment in which goods are delivered by one person to another as security for a debt or for the performance of a promise. The person who delivers the goods is called the pledger or pawnor, while the person who receives them is called the pledgee or pawnee. The rights and responsibilities of both parties are important because a pledge creates a relationship of mutual confidence and imposes legal duties on both sides. The pledger has several important rights. First, the pledger has the right to receive back the pledged goods when the debt or promise has been properly discharged. Once the amount due, including any legally recoverable charges, has been paid or the promise has been performed, the pledgee is required to return the goods to the pledger. The pledger does not lose ownership of the goods merely because possession has been transferred to the pledgee. Second, the pledger has the right to redeem the pledged goods. Even where the pledgee has a right to sell the goods after default, the pledger may redeem them at any time before the actual sale by paying the debt and meeting the necessary expenses arising from the default. This right of redemption protects the pledger from losing the property unnecessarily. Third, the pledger has the right to receive any increase or profit arising from the pledged goods. Since ownership generally remains with the pledger, any natural increase or benefit attached to the goods belongs to the pledger, subject to the terms of the agreement. Fourth, the pledger has the right to expect reasonable care of the pledged goods from the pledgee. The pledgee must take the same care of the goods as a person of ordinary prudence would take of his or her own goods of similar nature and value. If the pledgee fails to take reasonable care and the goods are damaged or lost because of such negligence, the pledger may claim appropriate compensation. The pledger also has responsibilities. The most important responsibility is to repay the debt or perform the promise according to the terms of the agreement. The pledger must pay the principal amount, interest, and other lawful charges where applicable. Failure to discharge the obligation may give the pledgee the right to take legal action or exercise the right of sale according to law. The pledger must also disclose defects in the pledged goods that may materially affect their value or the pledgee's use and possession of them. If the pledger knowingly conceals important defects or makes false representations