Question

A contract under which
possession of goods is tranfered
from one person to an other
upon some purpose is called
O d. Contract of pledge
O b. Contract of Indemnity
O c. Contract of Bailment
O d. Contract of Agency​

Answer 1

Answer:

Transfer of goods from one person to another for a specific purpose is known as the bailment. Transfer of goods from one person to another as security for repayment of debt is known as the pledge. It is defined under section 148 of the Indian Contract Act, 1872.