A transaction in which the owner gives possession of his personal property to another to secure a debt is:
A) an extraordinary bailment.
B) a pledge.
C) a consignment.
D) commercial bailment.

Question

Quizplus · Accepted Answer

A transaction of giving possession of personal property to secure a debt is known as a pledge. It is a type of security for the lender where the borrower transfers possession of a valuable asset to the lender to ensure payment of a debt.

A Transaction in Which the Owner Gives Possession of His