ACCA 每日一练F4（CHN） 答案回复可见

8 For the purpose of expanding his business, Mr Zhang borrowed RMB 100,000 yuan from Mr Lee and would provide
a mini-bus as the pledge to Mr Lee. However, Mr Lee returned the mini-bus to Mr Zhang because he did not hold a
driver’s licence.
Subsequently, Mr Zhang borrowed another RMB 100,000 yuan from Mr Wang and put the mini-bus as the pledge
to Mr Wang. After the conclusion of the loan agreement and pledge agreement, Mr Zhang delivered the mini-bus to
Mr Wang.
During the period of his possession of the mini-bus, Mr Wang concluded a rental agreement with a transport company
without the advance consent of Mr Zhang. The mini-bus was put into transportation service by the transport company
but was totally destroyed in a traffic accident.
Upon the expiration of the loan agreement, Mr Zhang came to repay the principal and interest. However Mr Wang
could not return the pledged mini-bus to him.
Required:
Answer the following questions in accordance with the relevant provisions of the Property Law of China and give
your reasons for your answer:
(a) explain whether the pledge agreement between Mr Zhang and Mr Lee came into effect; (3 marks)
(b) explain what the legal relationship between Mr Zhang and Mr Wang was; (2 marks)
(c) explain whether Mr Wang was entitled to lease the mini-bus to the transport company; and (2 marks)
(d) explain against whom Mr Zhang should act in law for the recovery of the mini-bus. (3 marks)
(10 marks)