New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    The pawnees right of retainer can be exercised for

    ________________
    A Payment of the debt Correct Answer Incorrect Answer
    B Performance of the promise Correct Answer Incorrect Answer
    C Only for payment of the debt or the performance of the promise, and not for the interest of the debt, or all necessary expenses incurred by him in respect of the possession or for the preservation of the goods pledged Correct Answer Incorrect Answer
    D Not only for payment of the debt or the performance of the promise, but for the interest of the debt, and all necessary expenses incurred by him in respect of the possession or for the preservation of the goods pledged Correct Answer Incorrect Answer
    E Either a or b Correct Answer Incorrect Answer

    Solution

    Contract Act  Explanation: Section 173. Pawnee's right of retainer: The pawnee may retain the goods pledged, not only for payment of the debt or the performance of the promise, but for the interest of the debt, and all necessary expenses incurred by him in respect of the possession or for the preservation of the goods pledged.

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