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Under section 58 of the Transfer of Property Act, 1882, which mortgage involves a promise to repay on a…

Section 58(e) defines the English mortgage by the obligation to repay on a certain date, the absolute transfer and the agreed retransfer on repayment.

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Under section 58 of the Transfer of Property Act, 1882, which mortgage involves a promise to repay on a certain date and an absolute transfer subject to retransfer when the agreed mortgage money is paid?

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Answer and explanation

Correct answer A

Section 58(e) defines the English mortgage by the obligation to repay on a certain date, the absolute transfer and the agreed retransfer on repayment.

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Option A

Section 58(e) combines a personal promise to pay on a fixed date with an absolute transfer subject to retransfer.

Option B

Section 58(c) starts with an ostensible sale. The condition must be embodied in the same document that effects or purports to effect the sale.

Option C

Section 58(b) involves a personal promise and a right to cause a sale on default, without delivery of possession or the absolute transfer described here.

Option D

Section 58(d) involves delivery of possession or an obligation to deliver it, with a right to appropriate rents and profits.

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