General Studies · Lien and Legal Provisions
Assertion: A banker's right of general lien is often described as an implied pledge, allowing the sale of retained goods after reasonable notice. Reason: Section 171 of the Indian Contract Act 1872 explicitly grants a general lien, which inherently contains an automatic statutory power of sale without any procedural requirements.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Both Assertion and Reason are true and the Reason is the correct explanation.
- 2Both Assertion and Reason are true but the Reason is not the correct explanation.
- 3The Assertion is true but the Reason is false.✓
- 4The Assertion is false but the Reason is true.
Correct answer
The Assertion is true but the Reason is false.
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