Q. A person has a Locker in a Bank. In this question the following statement holds correct:
Answer: Bank is lessor and person is lessee
Notes: The correct answer is "Bank is lessor and person is lessee." In a bank locker arrangement, the bank provides the locker (leased property) to the customer (lessee) for safekeeping valuables. The bank retains ownership of the locker while the customer has the right to use it. This relationship is similar to a rental agreement, where the bank is the lessor and the customer is the lessee.