Right of a person to retain possession of some goods belonging to another until some debts of the person in possession is satisfied a) Pledge b) Bailment c) Lien d) Guarantee

Right of a person to retain possession of some goods belonging to another until
some debts of the person in possession is satisfied
a) Pledge
b) Bailment
c) Lien
d) Guarantee
by

1 Answer

Answer :

c) Lien
by

Related questions

The bailment of goods as security for payment of a debt or performance of a promise a) Pledge b) Lien c) Agency d) Bailment

Description : The bailment of goods as security for payment of a debt or performance of a promise a) Pledge b) Lien c) Agency d) Bailment

Last Answer : a) Pledge

where by exercising the right of stoppage in transit the unpaid seller regains the possession of goods, then a) unpaid seller lien revives b)contract of sale in terminated c) unpaid seller lien does not revive d)sellers possession in unlawful

Description : where by exercising the right of stoppage in transit the unpaid seller regains the possession of goods, then a) unpaid seller lien revives b)contract of sale in terminated c) unpaid seller lien does not revive d)sellers possession in unlawful

Last Answer : c) unpaid seller lien does not revive

A person who finds the goods belonging to others and takes them into his possession is called a) Finder of goods b) Bailor c) Pledgor d) Pawnee

Description : A person who finds the goods belonging to others and takes them into his possession is called a) Finder of goods b) Bailor c) Pledgor d) Pawnee

Last Answer : c) Pledgor

In general all of the following are requirement for a bailment; except that the: a) Bailor must be in possession of goods b) Bailee must intent to possess goods c) Bailee must return identical goods d) Actual ownership of goods is necessary

Description : In general all of the following are requirement for a bailment; except that the: a) Bailor must be in possession of goods b) Bailee must intent to possess goods c) Bailee must return identical goods d) Actual ownership of goods is necessary

Last Answer : d) Actual ownership of goods is necessary

Any one in possession of goods can create bailment relationship and becomes: a) Bailee b) Bailor c) Executor d) Administrator

Description : Any one in possession of goods can create bailment relationship and becomes: a) Bailee b) Bailor c) Executor d) Administrator

Last Answer : b) Bailor

A bailment allows an owner of a personal property to transfer possession of it to another individual for any one of the following purpose; except: a) Sale b) Transportation c) Storage d) Lease

Description : A bailment allows an owner of a personal property to transfer possession of it to another individual for any one of the following purpose; except: a) Sale b) Transportation c) Storage d) Lease

Last Answer : d) Lease

The contract which creates the relationship of an agent and principal a. Agency b. Bailment c. Pledge d. Offer

Description : The contract which creates the relationship of an agent and principal a. Agency b. Bailment c. Pledge d. Offer

Last Answer : a. Agency

A transaction in which an owner of a tangible personal property transfers the property such property is known as: a) Bailment b) Pledge c) Hypothecation d) Lease

Description : A transaction in which an owner of a tangible personal property transfers the property such property is known as: a) Bailment b) Pledge c) Hypothecation d) Lease

Last Answer : a) Bailment

Choose the incorrect; Rights of bailee: a) Rights of implied b) Bailor’s lien c) Termination of bailment d) Enforcement of duties of bailor

Description : Choose the incorrect; Rights of bailee: a) Rights of implied b) Bailor’s lien c) Termination of bailment d) Enforcement of duties of bailor

Last Answer : c) Termination of bailment

What is the essence of the bailment a) Transfer of ownership b) Transfer of possession c) A and B d) None of these

Description : What is the essence of the bailment a) Transfer of ownership b) Transfer of possession c) A and B d) None of these

Last Answer : b) Transfer of possession

The person whom delivered the goods for bailment process is called a) Bailee b) Bailor c) Pawnor d) Pawnee

Description : The person whom delivered the goods for bailment process is called a) Bailee b) Bailor c) Pawnor d) Pawnee

Last Answer : a) Bailee

In which of the following cases, the unpaid seller loses his right of lien? a) delivery of goods to buyer b)delivery of goods to carrier c) tender of price by buyer d) all of these

Description : In which of the following cases, the unpaid seller loses his right of lien? a) delivery of goods to buyer b)delivery of goods to carrier c) tender of price by buyer d) all of these

Last Answer : c) tender of price by buyer

The unpaid seller can exercise his right of lien over the goods for a) any lawfull charges b)price of goods c) storage charges d)all of these

Description : The unpaid seller can exercise his right of lien over the goods for a) any lawfull charges b)price of goods c) storage charges d)all of these

Last Answer : d)all of these

Which are the rights of finder of goods a) Rights of lien b) Right to sue for reward c) Right to sale d) All of the above

Description : Which are the rights of finder of goods a) Rights of lien b) Right to sue for reward c) Right to sale d) All of the above

Last Answer : d) All of the above

A person finds certain goods belonging to some other persons. In such a case, the finder (a) Becomes the owner of that good (b) Is under a duty to trace the real owner (c) Can sell that good if true owner is not found (d) Both (b) & (c)

Description : A person finds certain goods belonging to some other persons. In such a case, the finder (a) Becomes the owner of that good (b) Is under a duty to trace the real owner (c) Can sell that good if true owner is not found (d) Both (b) & (c)

Last Answer : (d) Both (b) & (c)

What is the subject matter of bailment a) Movable goods b) Immovable goods c) Perishable goods d) All of the above

Description : What is the subject matter of bailment a) Movable goods b) Immovable goods c) Perishable goods d) All of the above

Last Answer : a) Movable goods

Which is not the case of termination of bailment (a) Where the bailee wrongfully uses or dispose of the goods bailed. (b) When the period of bailment expires (c) When the object of bailment has been achieved (d) None of the above

Description : Which is not the case of termination of bailment (a) Where the bailee wrongfully uses or dispose of the goods bailed. (b) When the period of bailment expires (c) When the object of bailment has been achieved (d) None of the above

Last Answer : (d) None of the above

The goods are the risk of a party who has the a) ownership of goods b)possession of goods c) custody of goods d)both (b) and (c)

Description : The goods are the risk of a party who has the a) ownership of goods b)possession of goods c) custody of goods d)both (b) and (c)

Last Answer : a) ownership of goods

The property in the goods means the a) possession of goods b)custody of goods c) ownership of goods d)both(a) and (b)

Description : The property in the goods means the a) possession of goods b)custody of goods c) ownership of goods d)both(a) and (b)

Last Answer : c) ownership of goods

In a hire purchase agreement the hirer a) must buy the goods b)must return the goods c) has an option to buy the goods d)not given the possession of goods

Description : In a hire purchase agreement the hirer a) must buy the goods b)must return the goods c) has an option to buy the goods d)not given the possession of goods

Last Answer : c) has an option to buy the goods

A ……… is a mercantile agent entrusted with the possession of goods for the purpose of selling them. a. Commercial agent b. Factor c. Broker d. Commission agent

Description : A ……… is a mercantile agent entrusted with the possession of goods for the purpose of selling them. a. Commercial agent b. Factor c. Broker d. Commission agent

Last Answer : b. Factor

A mercantile agent employed to sell goods which have been placed in his possession or contract to buy goods for his principal (a) Factors (b) Brokers (c) Del Credere Agent (d) Auctioneers

Description : A mercantile agent employed to sell goods which have been placed in his possession or contract to buy goods for his principal (a) Factors (b) Brokers (c) Del Credere Agent (d) Auctioneers

Last Answer : (a) Factors

A bailment in which only the person who borrows and article gets the benefits is known as: a) Bailment for the sole benefits of the bailee b) Bailment for the sole benefits of the bailor c) Mutual benefit bailment d) Constructive bailment

Description : A bailment in which only the person who borrows and article gets the benefits is known as: a) Bailment for the sole benefits of the bailee b) Bailment for the sole benefits of the bailor c) Mutual benefit bailment d) Constructive bailment

Last Answer : a) Bailment for the sole benefits of the bailee

Which one of the following is not a duty of an agent? a. Right of retainer b. Right of lien c. Right to remuneration d. Right to recover damage

Description : Which one of the following is not a duty of an agent? a. Right of retainer b. Right of lien c. Right to remuneration d. Right to recover damage

Last Answer : d. Right to recover damage

Which of the following is not an example of bailment a) A coat check b) Valet parking c) Dry cleaning d) A gift you give someone for their birthday

Description : Which of the following is not an example of bailment a) A coat check b) Valet parking c) Dry cleaning d) A gift you give someone for their birthday

Last Answer : d) A gift you give someone for their birthday

Which of the following is not a type of bailment a) Gratuitous b) deposit c) Sale d) Loan for use

Description : Which of the following is not a type of bailment a) Gratuitous b) deposit c) Sale d) Loan for use

Last Answer : c) Sale

No consideration passes between the bailor and bailee a) Non gratuitous bailment b) Gratuitous bailment c) Special bailment d) Conditional bailment

Description : No consideration passes between the bailor and bailee a) Non gratuitous bailment b) Gratuitous bailment c) Special bailment d) Conditional bailment

Last Answer : b) Gratuitous bailment

The term bailment is derived from a French word “bailor”, which means: a) Depends b) Deliver c) Selling d) Buying

Description : The term bailment is derived from a French word “bailor”, which means: a) Depends b) Deliver c) Selling d) Buying

Last Answer : b) Deliver

A bailment is for a specific period, it terminates on expiry of that period a) On the achievement of the subject b) On the expiry of the period c) Gratuitous bailment d) Destruction of the subject matter

Description : A bailment is for a specific period, it terminates on expiry of that period a) On the achievement of the subject b) On the expiry of the period c) Gratuitous bailment d) Destruction of the subject matter

Last Answer : b) On the expiry of the period

A bailment for the sole benefit of a bailer usually results in ------------ a) Borrowing /lending transactions b) Spring transaction c) Declarative transaction d) Autonomous transaction

Description : A bailment for the sole benefit of a bailer usually results in ------------ a) Borrowing /lending transactions b) Spring transaction c) Declarative transaction d) Autonomous transaction

Last Answer : a) Borrowing /lending transactions

The law concerning bailment provides for certain rights and duties of both bailor and bailee, depending on the: a) Amount of transaction b) Nature of business c) Kind of bailment d) Competency in the market

Description : The law concerning bailment provides for certain rights and duties of both bailor and bailee, depending on the: a) Amount of transaction b) Nature of business c) Kind of bailment d) Competency in the market

Last Answer : c) Kind of bailment

An agreement reached between a bailer and a bailee is a) Mortgage b) Bailout c) Bailment d) Codicil

Description : An agreement reached between a bailer and a bailee is a) Mortgage b) Bailout c) Bailment d) Codicil

Last Answer : c) Bailment

Bailment is a special kind of contract that is widely used in business and in: a) Personal affairs b) Cultural activities c) Academic research d) Charitable institution

Description : Bailment is a special kind of contract that is widely used in business and in: a) Personal affairs b) Cultural activities c) Academic research d) Charitable institution

Last Answer : a) Personal affairs

Pledge is made for purpose a) Any purpose b) Special purpose c) Common purpose d) None of the above

Description : Pledge is made for purpose a) Any purpose b) Special purpose c) Common purpose d) None of the above

Last Answer : b) Special purpose

A stipulation which is essential to the main purpose of the contract and if prove false give the buyer a right terminate the contract is legally known as a) guarantee b)condition c) warranty d)none of these

Description : A stipulation which is essential to the main purpose of the contract and if prove false give the buyer a right terminate the contract is legally known as a) guarantee b)condition c) warranty d)none of these

Last Answer : c) warranty

A lien which is available only against that property of which the skill and labour have been exercised (a) General Lien (b) Particular Lien (c) Ordinary Lien (d) Both (a) & (b)

Description : A lien which is available only against that property of which the skill and labour have been exercised (a) General Lien (b) Particular Lien (c) Ordinary Lien (d) Both (a) & (b)

Last Answer : (b) Particular Lien

The person to whom the guarantee is given is called a) Indemnifier b) Principal debtor c) Indemnified d) Creditor

Description : The person to whom the guarantee is given is called a) Indemnifier b) Principal debtor c) Indemnified d) Creditor

Last Answer : d) Creditor

The person who gives the guarantee is called a) A surety b) Guarantee c) Competent d) creditor

Description : The person who gives the guarantee is called a) A surety b) Guarantee c) Competent d) creditor

Last Answer : a) A surety

A ______ is a contract to person the promise or to discharge a liability of a third person in case of his default. a) Contract of indemnity b) contract of guarantee c) Implied contract d) express contract

Description : A ______ is a contract to person the promise or to discharge a liability of a third person in case of his default. a) Contract of indemnity b) contract of guarantee c) Implied contract d) express contract

Last Answer : b) contract of guarantee

_______ is a guarantee given for the good conduct or honesty of a person employed in a particular office. a) Fidelity guarantee b) Continuing Guarantee c) Retrospective guarantee d) specific guarantee

Description : _______ is a guarantee given for the good conduct or honesty of a person employed in a particular office. a) Fidelity guarantee b) Continuing Guarantee c) Retrospective guarantee d) specific guarantee

Last Answer : a) Fidelity guarantee

A contract by which one party promises to save the other from loses caused to him by the conduct of the promise himself or by the conduct of any other person is called a ________ a) Contract of indemnity b) Contract of guarantee c) Quasi contract d) none of these

Description : A contract by which one party promises to save the other from loses caused to him by the conduct of the promise himself or by the conduct of any other person is called a ________ a) Contract of indemnity b) Contract of guarantee c) Quasi contract d) none of these

Last Answer : a) Contract of indemnity

When a guarantee given for an existing debt or obligation it is known as a) Specific guarantee b) fidelity guarantee c) Retrospective guarantee d) continuing guarantee

Description : When a guarantee given for an existing debt or obligation it is known as a) Specific guarantee b) fidelity guarantee c) Retrospective guarantee d) continuing guarantee

Last Answer : a) Specific guarantee

A continuing guarantee may at any time be revoked by the surety as to future transactions by giving a ____ to the creditor. a) By notice b) By Oral c) By death of surety ` d) none of these

Description : A continuing guarantee may at any time be revoked by the surety as to future transactions by giving a ____ to the creditor. a) By notice b) By Oral c) By death of surety ` d) none of these

Last Answer : a) By notice

When a guarantee extends to a single transactions or debt it is called a) Retrospective guarantee b) Specific Guarantee c) Prospective guarantee d) Fidelity guarantee

Description : When a guarantee extends to a single transactions or debt it is called a) Retrospective guarantee b) Specific Guarantee c) Prospective guarantee d) Fidelity guarantee

Last Answer : b) Specific Guarantee

Contract of sale may be a) agency relationship b)sale or agreement c)indemnity d)guarantee.

Description : Contract of sale may be a) agency relationship b)sale or agreement c)indemnity d)guarantee.

Last Answer : b)sale or agreement

In case of Contract of guarantee, if the creditor loses or parts with any security which the debtor provides him at time of contract, the surety is discharged to the extent of (a) The value of the security (b) The surety can be fully discharged (c) The surety can claim damages (d) All of the above

Description : In case of Contract of guarantee, if the creditor loses or parts with any security which the debtor provides him at time of contract, the surety is discharged to the extent of (a) The value of the security (b) The surety can be fully discharged (c) The surety can claim damages (d) All of the above

Last Answer : (a) The value of the security

In case of contract of guarantee, what is the liability of the surety against the principal debtor (a) Primary (b) Secondary (c) No liability (d) Fully liable

Description : In case of contract of guarantee, what is the liability of the surety against the principal debtor (a) Primary (b) Secondary (c) No liability (d) Fully liable

Last Answer : (b) Secondary

What is the ratio of parties in contract of indemnity and contract of guarantee (a) 2 : 3 (b) 3 : 2 (c) 1 : 3 (d) 2 : 1

Description : What is the ratio of parties in contract of indemnity and contract of guarantee (a) 2 : 3 (b) 3 : 2 (c) 1 : 3 (d) 2 : 1

Last Answer : (a) 2 : 3

The unpaid seller can exercise his right of stoppage of goods in transit where the buyer a)refuse to pay price b)acts fraudulently c)become insolvent d)all of these

Description : The unpaid seller can exercise his right of stoppage of goods in transit where the buyer a)refuse to pay price b)acts fraudulently c)become insolvent d)all of these

Last Answer : d)all of these

In case a condition is changed to the status of a warranty ,then the buyer a)loses the right to reject goods b)retains right claim damages only c)both (a) and (b) are true d)both (a) and (b) are false

Description : In case a condition is changed to the status of a warranty ,then the buyer a)loses the right to reject goods b)retains right claim damages only c)both (a) and (b) are true d)both (a) and (b) are false

Last Answer : c)both (a) and (b) are true