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

    Question

    Where immoveable property of one person is by act of

    parties or operation of law made security for the payment of money to another, and the transaction does not amount to a mortgage, it is?
    A Charge Correct Answer Incorrect Answer
    B Lease Correct Answer Incorrect Answer
    C Anomalous Mortgage Correct Answer Incorrect Answer
    D Hypothecation Correct Answer Incorrect Answer
    E Pledge Correct Answer Incorrect Answer

    Solution

    As per s. 100 of TP Act, 1882-100. Charges.—Where immoveable property of one person is by act of parties or operation of law   made security for the payment of money to another, and the transaction does not amount to a mortgage,   the latter person is said to have a charge on the property; and all the provisions hereinbefore contained [which apply to a simple mortgage shall, so far as may be, apply to such charge].

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