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      Question

      In a 'Pledge', what is the legal relationship between

      the Bank and the Borrower?Β 
      A Debtor and Creditor only Correct Answer Incorrect Answer
      B Bailee and Bailor Correct Answer Incorrect Answer
      C Agent and Principal Correct Answer Incorrect Answer
      D Trustee and Beneficiary Correct Answer Incorrect Answer
      E Lessor and Lessee Correct Answer Incorrect Answer

      Solution

      A pledge is a form of 'Bailment' where goods are delivered as security. The bank is the Bailee (Pawnee) and the borrower is the Bailor (Pawnor).

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