Under section 132 of the Transfer of Property Act, 1882, when must a liability or equity have applied to the transferor for the transferee to take an actionable claim subject to it?
Question and options
Under section 132 of the Transfer of Property Act, 1882, when must a liability or equity have applied to the transferor for the transferee to take an actionable claim subject to it?
On the date of transfer
At the time the original claim arose
When the debtor receives notice of transfer
Fifteen days after the transfer
Answer and explanation
Section 132 looks to the liabilities and equities that applied to the transferor on the date of transfer. For example, an existing right of set-off may be asserted against the transferee.
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