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The 'bailment of the goods,' as security for payment of a debt or performance of a promise, is called:
Question

The 'bailment of the goods,' as security for payment of a debt or performance of a promise, is called:

A.

Indemnity

B.

Guarantee

C.

Mortgage

D.

Pledge

Correct option is D


A pledge is a bailment of goods as security for the payment of a debt or the performance of a promise, as defined under Section 172 of the Indian Contract Act, 1872.

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