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Under the Transfer of Property Act, 1882, where, on a transfer of property, an interest therein is…

Section 21 calls an interest contingent when it is to take effect only on a specified uncertain event happening, or a specified uncertain event not happening. A vested…

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Under the Transfer of Property Act, 1882, where, on a transfer of property, an interest therein is created in favour of a person to take effect only on the happening of a specified uncertain event, such an interest is called:

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Correct answer B

Section 21 calls an interest contingent when it is to take effect only on a specified uncertain event happening, or a specified uncertain event not happening. A vested interest under Section 19 is not dependent on such an uncertain condition; the rule against perpetuity concerns a different limitation on future interests.

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