Economics · Banking Law and Practice
Read the following statements regarding banking law and identify the correct combination: (a) The Banker's lien is an implied pledge. (b) Right of lien and right of set-off can be exercised simultaneously on the same account. (c) Actual or constructive delivery of goods is essential for a valid pledge. (d) The limitation period for filing a suit for sale of mortgaged property is 12 years from the date the mortgage debt becomes due.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1(a) - False, (b) - False, (c) - True, (d) - True
- 2(a) - True, (b) - True, (c) - False, (d) - False
- 3(a) - True, (b) - False, (c) - True, (d) - False✓
- 4(a) - True, (b) - False, (c) - False, (d) - True
Correct answer
(a) - True, (b) - False, (c) - True, (d) - False
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