Rohit deposited his gold chain with the bank as security for loan of ₹ 1,00,000/- and promised to repay the amount with interest. What kind of special contract entered by Rohit and Bank ?
CS CSEET · Business Laws and Management · PYQS · June 2026
Rohit deposited his gold chain with the bank as security for loan of ₹ 1,00,000/- and promised to repay the amount with interest. What kind of special contract entered by Rohit and Bank ?
Answer & Explanation:
Correct Answer: Option (D)
Correct answer: (D) Pledge.
Topics: Indian Contract Act, 1872
Related Questions in this Topic
- When a surety pays off the debt of the principal debtor, the surety steps into the shoes of the creditor. This right is ...
- Cancellation of contract by agreement between the parties at any time before it is discharged by performance and as a re...
- Which of the following is not competent to contract ?
- While attending a seminar, Sumana invited Amrita to have dinner at her flat on Saturday. Amrita hired a cab and reached ...
- Which one from below is not related to contract of bailment ?