Which of the following statements regarding Chapter VIII of the Transfer of Property Act, 1882 relating…

Section 137 of the Transfer of Property Act, 1882 excludes from Chapter VIII instruments negotiable by law or custom and mercantile documents of title to goods. The statement that the chapter "applies to instruments which are for the time being, by law or custom, negotiable" is therefore incorrect. Section 132 makes the transferee of an actionable claim take it subject to the transferor's liabilities and equities at the date of transfer, and section 131 requires every notice of transfer to be in writing.