Q780
X transfers possession or custody of the farmland to his son, S. S shall pay rent or a lease fee in return. S only receives custody and control of the property, but X still owns it. X is thus responsible for paying the property taxes and is liable for what happens on the land. This kind of contract or arrangement is called:
A.
Guarantee
B.
Bailment
AnswerC.
Pledge
D.
Set off
Answer: Option B
Solution
Answer: Option B
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