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Where a debt is transferred for the purpose of securing an existing or future debt, the debt so transferred, if received by the transferor or recovered by the transferee is applicable first, in payment of cost of such recovery. This is the provision of

Where a debt is transferred for the purpose of securing an existing or future debt, the debt so transferred, if received by the transferor or recovered by the transferee is applicable first, in payment of cost of such recovery. This is the provision of Correct Answer Mortgaged debt

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Match List I with List II: List I (Method) List II (Purchase consideration) (A) Lump-sum payment method (I) Calculated by adding up the total amount (money value) of existing shares, preference shares and cash received from the purchasing company for the shareholders of the vendor company. (B) Net Assets Method (II) On the basis of ratio in which the shares of the transferee company are to be exchanged for the shares of the transferor company. (C) Net Payment Method (III) The amount to be paid by the transferee company to transferor company for amalgamation of its business. (D) Swap Ratio Method (IV) Arrived at by adding the agreed value of assets taken over and deducting there from the agreed values of liabilities. Choose the correct answer from the options given below:
Every notice of transfer of an actionable claim shall be in writing, signed by the transfereror or his agent or in case the transferor refuses to sign, by the transferee or his agent and shall state the name and address of the transferee. This is the provision under
There are flowers in a basket which are to be distributed to five persons standing in a row. The second person received half of the number of flowers given to the first person, the third person received half of the number of flowers received to the second person; the fourth person received half of the number of flowers received to the third person and the fifth person received half of the number of flowers received to the fourth person. If the fifth person received only one flower and there is no flower remaining in the basket, how many flowers were their in the basket?
Pawnee has the right to retain the goods pledge for the:
1. payment of the debt for which the goods were pledged.
2. payment of subsequent debt.
3. payment of subsequent debt if there is a contract to that effect.
4. interest on the debt and expenses for preservation of pledged goods.
Select the correct answer using the given below:
Which of the following statements are true/false?
1. A minimum rate of wages for the time spent by employees for the production of output is minimum time rate.
2. Minimum piece rate is the rate based on the quantity of the output employees have produced.
3. The guaranteed time rate is a minimum rate of remuneration to apply in the case of employees employed on piece work for the purpose of securing to such employees a minimum rate of wages on a time work basis.
4. A minimum rate of remuneration to apply in the case of employees employed on piece work for the purpose of securing to such employees a minimum rate of wages on a time work basis is overtime rate.
The following are some postulates as sine qua non for basing a claim on section 53A of the Transfer of Property Act, 1882
(1) The contract should have been in writing signed by transferor.
(2) Transferee should have got possession of the immovable property covered by contract.
(3) Transferee should have done some act in furtherance of contract.
The transfer of an auctionable claim whether with or without consideration shall be effected only by the execution of an instrument in writing signed by the transferor or his duly authorised agent, shall be complete and effectual upon the execution of such instrument and all the rights and remedies shall be vested upon transferee. This is the provision under
Section 114 of the Transfer of Property Act, 1882, affords protection to the tenant against forfeiture while the tenant enjoys the immunity from eviction for default in the payment of rent, the land lord gets the corresponding benefit of recovery even of such areas as are not legally recoverable. Such an equitable provision as is engrafted shall govern only to such an extent which does not run counter to any specific statutory provision. This was held in:
Seven chocolates, A, B, C, D, E, F and G, are bought at different costs between Rs. 40 and Rs. 50 (excluding both Rs. 40 and Rs. 50) but not necessarily in the same order. The cost of chocolate C is Rs. 5 less than that of chocolate E. The cost of chocolate A is a prime number. The cost of chocolate F is Rs. 2 more than that of chocolate A. The cost of chocolate F is more than that of chocolate E. The cost of chocolate D is an odd number. The cost of chocolate G is Rs. 3 more than the cost of chocolate D. None of the chocolates cost Rs. 44. The cost of chocolate B is an even number. What is the cost of chocolate E?
When one of several co-owners transfers his share, the transferee acquires as against the other co-owners the same rights that of transferor had but is subject to any condition and liabilities affecting the share at the date of transfer. This is the provision under: