Multiple choice

Banker’s lien is not available in which of the following situations?

(a) The securities have been handed over by the customer for safe custody. (b) Documents submitted by the customer for specific purpose. (c) The loan has not become due for payment as yet. (d) Securities are left by the customer with the bank, by mistake.

  1. (a), (b) and (d) only

  2. (b), (c) and (d) only

  3. (a), (b) and (c) only

  4. (a) to (d) all
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Lien is a right to keep possession of property belonging to another person until a debt owed by that person is discharged.

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