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Get Answers to all your Questions
Manisha borrows money from a bank to start her business. As collateral, she pledges her car to the bank. who holds possession of the car?
Option: 1
Manisha
Option: 2
Bank until Manisha pays money
Option: 3
Both the Manisha and Bank
Option: 4
None of the above
Answers (1)
In a contract of pledge, possession of the pledged property is transferred to the pledgee as security for a debt. In this scenario, Manisha pledges her car to the bank, making them the pledgee and giving them possession of the car. Hence correct option is b.
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