New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Section 12 of the Transfer of Property Act is not

    applicable: 
    A Where the transfer is by way of sale Correct Answer Incorrect Answer
    B Where the transfer is by way of gift Correct Answer Incorrect Answer
    C Where the transfer is by way of lease Correct Answer Incorrect Answer
    D Where the transfer is by way of exchange. Correct Answer Incorrect Answer

    Solution

    S. 12. Condition making interest determinable on insolvency or attempted alienation.— Where property is transferred subject to a condition or limitation making any interest therein, reserved or given to or for the benefit of any person, to cease on his becoming insolvent or endeavouring to transfer or dispose of the same, such condition or limitation is void. Nothing in this section applies to a condition in a lease for the benefit of the lessor or those claiming under him.

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