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

    Question

    A general lien as per section 171 of the Contract Act

    can be exercised by whom?
    A Bankers Correct Answer Incorrect Answer
    B Factors Correct Answer Incorrect Answer
    C Home-brokers Correct Answer Incorrect Answer
    D All a, b & c Correct Answer Incorrect Answer
    E Either a or b Correct Answer Incorrect Answer

    Solution

    Section 171.   General lien of bankers, factors, wharfingers, attorneys and policy-brokers: Bankers, factors, wharfingers, attorneys of a High Court and policy-brokers may, in the absence of a contract to the contrary, retain as a security for a general balance of account, any goods bailed to them; but no other persons have a right to retain, as a security for such balance, goods bailed to them, unless there is an express contract to that effect.  

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