Article 71: (Second part of Art. 48A of Act of 1908):
The period of limitation for a suit to recover movable properly deposited or pawned, and afterwards brought from the depository or pawnee for a valuable consideration is three years and the period of limitation starts from the date when the sale becomes known to the plaintiff.
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ADVERTISEMENTS:
Article 71 relates to a suit against the person who has bought the movable property from the depository or pawnee whereas Art. 70 applies to a suit against the depository or pawnee himself. The benefit of Art. 71 is available only to a purchaser for valuable consideration purchasing the movable bona fide.
To attract the Art. 71, there must be three things namely, (i) that he is a real purchaser, (ii) that his purchase was bona fide; and (iii) that he is a purchaser for valuable consideration.
As the Article 71 constitutes to use the word ‘bought’, the Article 71 will not apply to cases where the property is pledged by the depository or pawnee.