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CA Foundation Exam  >  CA Foundation Questions  >  In pledge, bailor is calleda)Pawnorb)Pawneec)... Start Learning for Free
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In pledge, bailor is called
  • a)
    Pawnor
  • b)
    Pawnee
  • c)
    Both (a) and (b)
  • d)
    None of above
Correct answer is option 'A'. Can you explain this answer?
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Most Upvoted Answer
In pledge, bailor is calleda)Pawnorb)Pawneec)Both (a) and (b)d)None of...
Explanation:


  • Bailor: In a pledge, the bailor is the person who delivers the goods to another party as security for a loan or debt.

  • Pawnor: The bailor is also known as the pawnor in a pledge agreement.

  • Pawnee: The pawnee is the person who receives the goods as security in a pledge agreement.


Answer:


  • Answer: A. The bailor in a pledge is called the pawnor.


Therefore, in a pledge agreement, the bailor is referred to as the pawnor.
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In pledge, bailor is calleda)Pawnorb)Pawneec)Both (a) and (b)d)None of aboveCorrect answer is option 'A'. Can you explain this answer?
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