Which section of the Transfer of Property Act, 1882 defines a mortgage by conditional sale and requires its condition to be embodied in the instrument that effects or purports to effect the sale?
Question and options
Which section of the Transfer of Property Act, 1882 defines a mortgage by conditional sale and requires its condition to be embodied in the instrument that effects or purports to effect the sale?
Section 55
Section 56
Section 58
Section 60
Answer and explanation
Section 58(c) of the Transfer of Property Act, 1882 requires the condition to appear in the document effecting or purporting to effect the sale. Including the condition in the same document satisfies that requirement. The character of the transaction still depends on the instrument and the parties' intention.
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