X finds a government promissory note belonging to C bearing a blank endorsement. X, knowing that the note belongs to C, pledged it with a banker as a security for loan, intending to restore it to C within a week. Here, X is

Option (1) is incorrect: X is guilty of criminal misappropriation of property. Option (2) is incorrect: X was not entrusted with promissory property. So, he is not liable for criminal breach of trust. Option (3) is incorrect: X has not fraudulently induced the person to deliver any property. So, he is not liable for cheating. Option (4) is correct: X has dishonestly misappropriated and converted the promissory note into his own use and is guilty of criminal misappropriation of property.