alleryStart learning →If a pawnee's sale brings more than the amount due, the surplus goes to:
AThe pawnee as a bonus
BThe government treasury
CA charity of his choice
DThe pawnor, as owner
Answer & Solution
Correct answer: D. The pawnor, as owner
Section 176 requires the pawnee to pay over any surplus to the pawnor, since only the debt is secured.
Keep practising Bailment and Pledge
Browse all Bailment and Pledge questions for CA Foundation, or explore more Businesslaw topics.
Related questions
A pledgee may sell the pledged goods if the pledgor:Leaving a car with a valet attendant is a common example of:A lease of personal property is the same in law as:A paid repair leaves the item with the repairer. The bailment benefits:A library lends a book to a patron free of charge. This bailment is for the sole benefit oA friend keeps your jewellery free of charge while you are abroad. This bailment is for thThe 1703 case Coggs v Bernard established that a bailment:A bailment differs from a sale or gift because it transfers only: