Question

Which of the following are the essential elements in a contract of pledge?

Q: Answer-Which of the following are the essential elements in a contract of pledge?

172. Pledge, pawnor and pawnee definedThe 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 pawnee.

A Delivery of the goods must be for some specific purpose

B Delivery of possession of the goods for the repayment of a debt or the performance of a promise

C Both a & b

D Either a or b

Practice Next

More Banking Related Laws Questions

Choose the correct code: A. Judicial acts- S. 77 B. doli incapax- S.82 C. triffles/ slight harm- S. 93 D. communication in good faith – S. 94
Under Section 22, no company shall carry on banking business in India unless it holds what?
The duty to give information about insurance as per S. 152 of the Motor Vehicles Act includes-
Section 19(2) of the Banking Regulation Act, 1949 restricts a banking company from holding shares in any company, whether as pledgee, mortgagee or absolute...
Under Section 24 of PMLA, the burden of proof principle applicable to a money-laundering accused is:
What is the term of office of any director not being an official of Government or not being a whole-time director or official of the Reserve Bank as per ...
Under Section 31, a banker who without sufficient cause refuses to pay a customer's cheque despite sufficient funds is liable for what?
Under Section 45D of the RBI Act, 1934, the maximum fee the Bank may levy for furnishing credit information in respect of each application is what amount?
Desertion is a ground for divorce under which section of the Hindu Marriage Act?
Under the RTI Act, a complaint to the Information Commission can be made directly in which situation?

Hey! Ask a query

Which of the following are the essential elements in a contract of pledge?

Detailed Solution

More Banking Related Laws Questions

Hey! Ask a query

Please Register/Login