Bailor/bailee rights and pledger/pledgee rights are fundamental notions in contract law and property law. Let's look at each party's key rights:

Bailor/Bailee Rights:

1.Possession: The bailor has the right to possess the bailed goods or property both before and after the bailment, but the bailee has the right to possess the property only during the bailment term.

2.Ability to Terminate Bailment: Under certain conditions, both parties have the ability to terminate the bailment. The bailor may request that the bailed property be returned, and the bailee may seek to return the property to the bailor if the agreed-upon objective of the bailment is met.

3.Right to Use: According to the provisions of the bailment agreement, the bailee may have the right to use the bonded property. However, the bailor may set usage limits.

4.Right to Compensation : The bailor has the right to obtain compensation, known as a "premium," from the bailee for engaging into the bailment. This is common in business bailments like as storage or leasing.

5.Right to Care and Preservation: During the bailment time, the bailee is required to take reasonable care of the bailed property. If the bailee fails to do so and the property is harmed, the bailor may be able to seek restitution.

Pledger/Pledgee Rights:

1.Possession: During the time of the pledge, the pledgee (the person who receives the pledge) has the right to possess the pledged property.

2.Right to Retain: The pledgee has the right to keep the pledged property until the debt or obligation for which it was pledged is satisfied.

3.Right of Sale: If the pledger (the person who makes the pledge) fails to fulfill their duty, the pledgee may be able to sell the pledged property in order to recover the debt. However, the transaction must be carried out in accordance with legal rules and after proper notification to the pledger.

4.Right to receive: In exchange for taking the pledge, the pledgee is entitled to receive in the form of interest, fees, or any other agreed-upon value.

5.Right to Priority: If the pledger defaults, the pledgee may have priority over other creditors with relation to the pledged property. This means that the pledgee has a stronger claim on the property than other creditors who do not have a security interest.

These rights may differ depending on the exact provisions of the bailment or pledge arrangement, as well as the prevailing laws in the jurisdiction. A well-drafted written contract is always recommended for both parties to ensure a clear knowledge of rights and obligations.