UNIT III – Bailment & Pledge

Bailment is defined under Section:

• 124

• 148

• 172

• 182

The person who delivers goods in bailment is:

• Bailee

• Bailer

• Pawnor

• Pawnee

In a pledge, the person who delivers goods is:

• Pawnee

• Pawnor

• Bailer

• Bailee

Finder of lost goods is treated as a:

• Bailee

• Seller

• Pawnor

• Broker

In pledge, Pawnee has the right to:

• Retain goods until payment

• Destroy goods

• Return goods without debt

• Claim ownership

The Sale of Goods Act was enacted in:

• 1920

• 1930

• 1947

• 1962

“Goods” under the Sale of Goods Act means:

• Movable property

• Immovable property

• Money

• Shares

An unpaid seller’s right of lien is available when:

• Price is fully paid

• Goods are delivered

• Price is not paid

• Contract is void

In a sale, ownership passes to buyer:

• Immediately

• After payment only

• After delivery only

• After 6 months

Agent can claim reimbursement for:

• Lawful expenses

• Illegal expenses

• Personal use

• Secret profits