व्यवहारमयूख (नीलकण्ठ भट्ट - पश्चिमी भारत की हिन्दू न्याय-संहिता एवं व्यवहार कोष)

204 VYAVAHĀRAMAYŪKHA [ B. V. 1. 4-7
{ M. p. 100 ll. 2-12
-care be taken, another pledge must be kept (with the pawnee) or the
creditor (pawnee) must receive his money
Nārada (p 77 v 189) says
An 'ādhi is declared to be of two kinds, movable and immovable
both are complete (or valid) if there is actual possession (or enjoyment)
and not otherwise (i e. if there be no possession but mere witnesses or
document).
Vasiṣṭha also says
When¹ there are several documents of pledge executed at the same
time, the pledge to him is stronger who gets possession first
The same author says
If two (creditors) should come on the same day with the desire to
take possession, in such a case the pledge must be divided and enjoyed
equally by them this is the settled rule
*Kātyāyana says
If (a debtor) were to make a pledge of the same thing to two persons,
what would happen to him is that the prior transaction of the two should
be accepted (as enforceable or valid) and the person (debtor) who
made the two pledges would be liable to the fine prescribed for a thief ²
Yājñavalkya (II 58) says
A pledge is lost (i e forfeited to creditor) if it is not redeemed
before the debt has become double (with interest) A pledge with a
fixed date (for redemption) is lost on the expiry of the time (fixed)
but a pledge the fruits (or income) of which are to be enjoyed (by the
pawnee) is not lost (to the pawner)
Bṛhaspati (p 324 v 27) says
When the money lent (lit gold) has become double (with interest) or
when the period fixed has expired in the case of a pledge (delivered) for
a fixed period the creditor becomes the owner of the thing pledged after
having waited for a fortnight ³
prior one is complete) In the case of gopyādhi, the bhoga consists in the custody of the thing
though there may be no actual use. The verse of Nārada that follows is quoted in 2 Bom
279 at p. 508.
1 Compare Viṣṇudharmasūtra v 184 which says that possession is the determining
factor in a case of dispute between two pawnees.
2 For the words tam prati yad bhavet some books read tā pratipad bhavet
which is a better reading and means what should be the decision or what should be the
first (i. e. acceptable) transaction. Vide Vivāddharmasetu (v 181 183) which prescribes
punishment for such a debtor in the case of mortgages of land.
3 This verse is ascribed to Vyāsa by several writers. It prescribes two points of
time when the pawnee becomes the owner viz. when the principal has become dvatt
with interest and when the time stipulated has passed. But it allows a period of grace
viz a fortnight before the pledge becomes liable to be forfeited to the creditor
P 174 (text)