Pledge is a special type of bailment where the goods are delivered as security for:a.A debt or obligationb.Sale or transferc.Temporary custodyd.Gratuitous purpose
Question
Pledge is a special type of bailment where the goods are delivered as security for:a.A debt or obligationb.Sale or transferc.Temporary custodyd.Gratuitous purpose
Solution
The correct answer is a. A debt or obligation. In a pledge, goods are delivered as security for a debt or obligation. This means that the goods can be sold to cover the debt if it is not repaid. The other options, such as sale or transfer, temporary custody, and gratuitous purpose, are not typically associated with a pledge.
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