Question

The essential ingredient(s) of a pledge is/are ______.

• A. The property pledged should be delivered to the pawnee
• B. Delivery should be in pursuance of a contract
• C. Delivery should be for the purpose of security
• D. All of the above

Answer 1

The correct option is D All of the above

From Section 172 of Indian Contract Law, the essential ingredients of a pledge can be:

(a) The property pledged should be delivered to the pawnee;

(b) Delivery should be in pursuance of a contract;

(c) Delivery should be for the purpose of security.