The correct answer is: A. The bailment of goods as security for payment of a debt or performance of a promise.
A pledge is a bailment of goods as security for payment of a debt or performance of a promise. The bailor (the person who delivers the goods) is called the pledgor, and the bailee (the person who receives the goods) is called the pledgee. The pledgee has a right to sell the goods if the pledgor does not repay the debt or perform the promise.
Option B is incorrect because it describes a bailment for a specific purpose. A bailment for a specific purpose is a bailment in which the bailee is required to return the goods to the bailor after the purpose has been accomplished.
Option C is incorrect because it describes a suretyship. A suretyship is a contract in which a third party (the surety) agrees to be responsible for the debt or obligation
of another party (the principal).Option D is incorrect because it describes a conditional contract. A conditional contract is a contract that is contingent on the happening of a certain event.