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Which of these is expressly excluded by section 137 of the Transfer of Property Act, 1882, from the…

Section 130 generally requires a written instrument signed by the transferor or an authorised agent for transfer of an actionable claim. Section 137 expressly saves…

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Which of these is expressly excluded by section 137 of the Transfer of Property Act, 1882, from the rules in the preceding sections on transfer of actionable claims?

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Answer and explanation

Correct answer A

Section 130 generally requires a written instrument signed by the transferor or an authorised agent for transfer of an actionable claim.

Section 137 expressly saves negotiable instruments from the preceding provisions in that chapter.

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Option A

The section expressly excludes an instrument negotiable by law or custom.

Option B

Arrears of rent are outside the listed section 137 exclusions.

Option C

An amount owed under a letter of credit is outside the express section 137 classes. That description alone establishes neither negotiability nor a document of title.

Option D

An ordinary unsecured loan debt is within the definition of actionable claim and is outside the express exclusions.

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