Current Affairs · Banking and Legal Provisions
Consider the following statements regarding liens under the Indian Contract Act and banking law: Statement I: A Particular Lien (Section 170) is available to any person who has rendered service involving labor or skill regarding the specific goods bailed. Statement II: Bankers, factors, and wharfingers have a General Lien (Section 171) which allows them to retain any goods bailed to them for a general balance of account. Statement III: The Banker's Lien is considered an 'implied pledge,' which gives the bank the right to sell the retained assets after providing reasonable notice. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1I, II and III✓
- 2Only II and III
- 3Only I and II
- 4Only I
Correct answer
I, II and III
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Current Affairs?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Banking and Legal Provisions MCQs →Want more practice questions on Banking and Legal Provisions?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Current Affairs · Banking and Legal Provisions