A trader takes a loan under an agreement that he will deliver to the lender the next
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A trader takes a loan under an agreement that he will deliver to the lender the next day goods of an equivalent value lying in his godown as security for the loan. Both the borrower and the lender put their own locks on the door of godown. The borrower absconds the same right and is subsequently adjudged bankrupt. The official assignee claims the goods. Decide.
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Related Book For
Auditing and Assurance services an integrated approach
ISBN: 978-0132575959
14th Edition
Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley
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