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

    Question

    Which of the following statement regarding Chapter-VIII

    of The Transfer of Property Act. 1882 relating to 'Of transfers of actionable claims', is incorrect?
    A This chapter applies to instruments which are for the time being by law or custom, negotiable. Correct Answer Incorrect Answer
    B This chapter doesn't apply to any mercantile document of title of goods. Correct Answer Incorrect Answer
    C The transferee of actionable claim shall take it subject to all the liabilities and equities and to which the transferor was subject in respect thereof at the date of the transfer. Correct Answer Incorrect Answer
    D Every notice of transfer of an actionable claim shall be in writing. Correct Answer Incorrect Answer

    Solution

    Option 1 is incorrect and Option 2 is correct wrt 'Of transfers of actionable claims' as per Section 137- Saving of negotiable instruments, etc.—Nothing in the foregoing sections of this Chapter applies to stocks, shares or debentures, or to instruments which are for the time being, by law or custom, negotiable, or to any mercantile document of title to goods Option 3 is correct as per Section 132 - Liability of transferee of actionable claim—The transferee of an actionable claim shall take it subject to all the liabilities and equities to which the transferor was subject in respect thereof at the date of the transfer Option 4 is correct as per Section 130 - Transfer of actionable claim—(1) The transfer of an actionable 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 ……..

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