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What is pledge? - Commerce

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प्रश्न

What is pledge?

टिप्पणी लिखिए

उत्तर

A customer transfers the possession of an article with the creditor (banker) and receives a loan. Till the repayment of the loan, the article is under the custody of the borrower. If the debtor fails to refund the loan, the creditor (banker) will auction the article pawned and adjust the outstanding loan from the sale proceeds. 

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Meaning and Nature of Business Finance
  क्या इस प्रश्न या उत्तर में कोई त्रुटि है?
अध्याय 19: Sources of Business Finance - Exercises [पृष्ठ २०१]

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सामाचीर कलवी Commerce [English] Class 11 TN Board
अध्याय 19 Sources of Business Finance
Exercises | Q III. 2. | पृष्ठ २०१
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