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Which statement about section 53(1) of the Transfer of Property Act, 1882 is incorrect?

Section 53(1) applies to immovable property transferred with intent to defeat or delay creditors. A creditor defeated or delayed may elect to avoid the transfer. The rights…

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Which statement about section 53(1) of the Transfer of Property Act, 1882 is incorrect?

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Answer and explanation

Correct answer A

Section 53(1) applies to immovable property transferred with intent to defeat or delay creditors. A creditor defeated or delayed may elect to avoid the transfer. The rights of a transferee in good faith and for consideration are protected.

Option feedback

Option A

Section 53(1) applies only to transfers of immovable property.

Option B

The saving for the transferee requires both good faith and consideration.

Option C

The specified intention to defeat or delay creditors is an element of subsection (1).

Option D

Subsection (1) makes the transfer voidable at the option of a creditor defeated or delayed.

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