Identify whether the following statements are True or False.
(i) In a pledge, the goods are delivered to be kept as security for a debt or for performance of a promise.
Answer:
True
(ii) The pawnee can sell the goods, if the pawnor fails to pay.
(iii) The pawnee can sell the goods without giving notice to the pawnor.
(iv) The pawnee can keep the goods even after the pawnor has paid the dues.
ANSWERS :
(i) True;
(ii) True;
(iii) False;
(iv) False.