Question

Raman gives a loan to Bharat for Rs 150000 against security of a gold chain that belongs to Bharat in this case Raman is ________
a) pledgor
b) plefgee
c) surety​

Answer 1

Answer:

B. plefgee

Explanation:

the person who lends money to other is called as plefgee

Answer 2

The Answer is :

(b) pledgee

A pledgee is a person who lends money and receives a loan commitment.

• Section 172 of the Indian Contract Act of 1872 defines a pledge.
• It is a type of contract in which one party (the pledger) provides moveable goods as security to another party (the pledgee) in exchange for payment.
• What is important to note here is that the pledger delivers the security to the pledgee.
• Hypothecation, on the other hand, is a contract in which one party (the debtor) guarantees his movable possessions to another party (the creditor) in exchange for payment.
• It is vital to highlight that the debtor simply commits the security to the creditor in this case.
• The debtor does not deliver security to the creditor.

SPJ3