🔍Search Tips
- • Search by keyword: "land", "tax", "arrest"
- • Use exact phrases: "land commission"
- • Enter citations: 45, 45(3)(a), 45:3:a
- • Press / to search, Esc to close
Searching all Ugandan Acts. Comprehensive results.
Beta Version
Report any issues you encounter
(1)Where a pledgor defaults in payment of a debt or the performance of a promise within the time stipulated, in respect of the pledged goods, a pledgee may—
(a)bring a suit against the pledgor upon the debt or promise and retain the pledged goods as a collateral security; or
(b)sell the pledged goods, on giving the pledgor reasonable notice of the sale.
(2)Where the proceeds of the sale undertaken in accordance with subsection (1)(b), are less than the amount due in respect of the debt or promise, the pledgor is not liable to pay the balance and where the proceeds of the sale are greater than the amount due, the pledgee shall pay the surplus to the pledgor.
You have pledged goods as security for a debt or promise, and you fail to pay or perform on time. The person holding your pledged goods (the pledgee) ...
AI-generated, for reference only.
Searching within Contracts Act. Faster results.