📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    A contract entered into by a bailor and a bailee is

    known as ____________
    A Pledge Correct Answer Incorrect Answer
    B Bailment Correct Answer Incorrect Answer
    C Contractual bail Correct Answer Incorrect Answer
    D Either a or b or c Correct Answer Incorrect Answer
    E Either b or c Correct Answer Incorrect Answer

    Solution

    Section 148 ‘Bailment’, ‘bailor’ and ‘bailee’ defined: A ‘bailment’ is the delivery of goods by one person to another for some purpose, upon a contract that they shall, when the purpose is accomplished, be returned or otherwise disposed of according to the directions of the person delivering them. The person delivering the goods is called the ‘bailor’. The person to whom they are delivered is called the ‘bailee’.

    Practice Next
    More Banking Related Laws Questions
    ask-question