New Click here to Enroll for SIDBI MSME Expert Classes by Experts

    Register

    Question

    Which of the following is not a duty of the mortgagee

    ?
    A Managing the property Correct Answer Incorrect Answer
    B Must commit an act injurious to property. Correct Answer Incorrect Answer
    C Keep clear accounts of sums received and spent. Correct Answer Incorrect Answer
    D Both A and B. Correct Answer Incorrect Answer
    E A, B and C. Correct Answer Incorrect Answer

    Solution

    As per s.76 of TP Act 76. Liabilities of mortgagee in possession.—When, during the continuance of the mortgage, the mortgagee takes possession of the mortgaged property,— (a) he must manage the property as a person of ordinary prudence would manage it if it were his own; (b) he must use his best endeavours to collect the rents and profits thereof;

    Practice Next