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Under the Transfer of Property Act, 1882, where ‘A’ gives a lakh of rupees to ‘B’ reserving to himself,…

Section 126 of the Transfer of Property Act provides that a gift which the parties agree shall be revocable wholly or in part at the mere will of the donor is void wholly or…

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Under the Transfer of Property Act, 1882, where ‘A’ gives a lakh of rupees to ‘B’ reserving to himself, with B’s assent, the right to take back at pleasure 25,000 rupees out of the lakh:

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Answer and explanation

Correct answer B

Section 126 of the Transfer of Property Act provides that a gift which the parties agree shall be revocable wholly or in part at the mere will of the donor is void wholly or in part, as the case may be. Applying illustration (b), "The gift is partially void as to 25,000 rupees", which remain A's, while the gift of the balance is good.

The bad reservation does not make the whole gift void or entitle A to take back the whole lakh.

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