Under the Transfer of Property Act, 1882, in which of the following mortgages does the mortgagor bind…
Section 58(b) defines a simple mortgage as one where, without delivering possession, the mortgagor binds himself personally to pay the mortgage-money, unlike a usufructuary…
Choose your answer
Under the Transfer of Property Act, 1882, in which of the following mortgages does the mortgagor bind himself personally to pay the mortgage money?
Answer and explanation
Correct answer A
Section 58(b) defines a simple mortgage as one where, without delivering possession, the mortgagor binds himself personally to pay the mortgage-money, unlike a usufructuary mortgage, an anomalous mortgage, or a mortgage by assurance, which do not involve such personal liability in this way.
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