Examveda
Examveda

X transfers possession or custody of the farmland to his son, S. S shall pay rent or a lease fee in return. S only receives custody and control of the property, but X still owns it. X is thus responsible for paying the property taxes and is liable for what happens on the land. This kind of contract or arrangement is called:

A. Guarantee

B. Bailment

C. Pledge

D. Set off

Answer: Option B


This Question Belongs to Law >> Indian Contract Act

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