Question

Which of the following statements regarding a pawnee is correct?

Q: Answer-Which of the following statements regarding a pawnee is correct?

Explanation Contract Act Section 174. Pawnee not to retain for debt or promise other than that for which goods pledged The pawnee shall not, in the absence of a contract to that effect, retain the goods pledged for any debt or promise other than the debt or promise for which they are pledged but such contract, in the absence of anything to the contrary, shall be presumed in regard to subsequent advances made by the pawnee.

A A pawnee can retain pledged goods for any debt, regardless of the contract terms

B A pawnee can retain goods only for the debt or promise for which they were pledged, unless otherwise agreed

C A pawnee may retain pledged goods for any debt incurred after the goods were pledged, regardless of the agreement

D A pawnee can retain goods for any purpose, as long as the pledge is not violated

E A pawnee can keep goods until the contract is formally revoked by the pledgee

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Which of the following statements regarding a pawnee is correct?

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