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      Question

      The terms "Pledge", "Pawnor" and "Pawnee" has been

      defined under which section of the Contract Act?
      A Section 117 Correct Answer Incorrect Answer
      B Section 162 Correct Answer Incorrect Answer
      C Section 161 Correct Answer Incorrect Answer
      D Section 170 Correct Answer Incorrect Answer
      E Section 172 Correct Answer Incorrect Answer

      Solution

      Contract Act,  Section 172.   "Pledge", "Pawnor" and "Pawnee" defined: The bailment of goods as security for payment of a debt or performance of a promise is called "pledge". The bailor is in this case called the "pawnor". The bailee is called the "pawnee".

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