4. The secured creditor shall have two remedies for enforcing his claim; the first, to sell the pledge after proper notification; and secondly, through action. To see. 1 bouv. Inst. Nr. 1046, 1050. The secured creditor includes the right to claim compensation for all extraordinary expenses incurred by him for the preservation of the pledged products. He does not have the right to withhold the products, but only to sue for illness or expense. To understand in detail the difference between the rights and obligations of privileges and privileges, we need to know what a pledge is. A pledge is an exceptional type of deposit, and the premise of qualification is the subject of the agreement. At the moment when the products are transported with an item to secure credit or fulfill an obligation, the deposit is called a pledge. Return of an increase in goods: Any increase in pledged goods must be returned by the secured creditor to the secured creditor.
By way of security, the secured creditor may also retain the assets pledged to him. Pawnee undertakes not to bind the pledged goods. The secured creditor must not combine his own assets with the pledged proceeds. In addition, article 174 of the Act stipulates that the secured creditor does not have the right to retain the proceeds for other debts, except that the protection has been provided by the licensor. However, if the secured creditor assumes a resulting debt as soon as it has filed protection with the secured creditor, it is understood that the protection also applies to the present and thus to the resulting debt in the same way, unless otherwise agreed by each party. Article 174 of the Act states: “The secured creditor shall not retain the proceeds pledged for a debt or promise other than the debt or the promise that they are pledged; However, unless otherwise provided, such a contract may relate to advances granted by the secured creditor. The pledgee is prepared to reimburse the secured creditor for any extraordinary costs incurred by him in preserving the products. The secured creditor may also sell the pledged assets after notification to the secured creditor, and if the amount of the respective debt or promise exceeds the proceeds of the sale, the secured creditor may also demand the balance of the pledged creditor. However, if the amount of the debt or promise is less than the proceeds of the sale, the pledge becomes eligible for the surplus. This section stipulates that as soon as the secured creditor is intelligent and the secured creditor must therefore bear all the extraordinary costs associated with the maintenance of the Nice, he is entitled to receive these costs from the secured creditor.
Apart from such an act, he does not have the right to keep the products in order to recover them. In the event of non-payment by the secured creditor, he has the right to sell the goods pledged to him after a reminder. Pay claims and/or compensation to the secured creditor as required. The secured creditor may sue or sue the pawnshop. Do not use the goods: Until the secured creditor has been authorised by the secured creditor to use the goods, the secured creditor is not authorised to use the goods in any way. The secured creditor must compensate the secured creditor if it suffers damage due to a lack of ownership of the goods by the pledgee. The secured creditor includes the right to retain the pledged assets until the maturity date of his loan. He shall retain them for the interest on the debt and any costs incurred for such goods for their preservation. It does, however, include the right to exercise an exclusively express lien on the goods. Pawnee has the privilege of selling the goods to the pawn upon reasonable notice and time.
Pawnee may sue Pawnor for inadequacy, provided that this is the case after such products have been offered. If there is an excessive delivery of the products, the guarantor must return it to the farmer. The secured creditor is entitled to reimbursement by the secured creditor of the extraordinary prices paid in connection with the maintenance of the pledged object. However, he has no right to stay things for such prices. The right to extraordinary expenses is expressed in article one hundred and seventy-five of the Act. This article provides as follows: “The secured creditor shall be entitled to receive from the secured creditor the extraordinary expenses it has incurred for the preservation of the pledged proceeds.” If the secured creditor fails to pay the debt at the required time or does not fulfil the promise, it may sue the secured creditor for the debt and retain the items pledged as security; Or he could sell the pledged goods if he informs the secured creditor of the sale in good time. So as long as the farmer`s claim is not met, no one has the right to demand the products and their value. If the undertaking was made by the pledge method, then the pledge cannot simply seize the proceeds by going to the premises of the secured creditor. He must either have the consent of the secured creditor or obtain the court order to seize the proceeds. The right of retention is therefore inherent in the nature of a particular lien, but a distinction has nevertheless been made between lien and pledge. A pledge is a link between a simple lien and a mortgage.
The secured creditor receives the special assets contained in the pledged assets. All assets remain with the pledge and fall back to it with the settlement of the debt as a whole, the assets of the adult are so far transferred only to the property, which is important to guarantee the debt. To return the goods: The law stipulates that the pawnshop implies an obligation to return the promised products when the destination is reached. The secured creditor is not entitled to use the products. However, he could use the proceeds if authorized to do so by the pledged creditor. The secured creditor is obliged to disclose all defects that (a) are to be used in the goods; or (b) could expose the secured creditor to extraordinary risks.