The Lawyer Volume 9; A Monthly Legal Publication (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1908 Excerpt: ...in good faith and for valuable consideration but without making any inquiry as to her husdand's rights M. made a mortgage of the same property to the respondent who sued to enforce it. Held, that the tranfer of the fictitious mortgage did not passany interest to the transferee notwithstanding that it was made bonafide and for valuable consideration. The proviso to section 53 was intended to safe quard the rights whieh had already been acquired. A purchaser for value must be the purchaser of something. Held, further that as M. had made a fictitious mortgage in favour of H. who thereby defrauded his wife, she could enforce that mortgage against M. and he could not be heard to say that the mortgage was fictitions and colourable, The balance of sale proceeds, if any, after satie fyiug the plaintiff's mortgage and all priorcharges should be applied to payment of the amount of the consideration named in the transfer made in her favour with interest. Stanley and Burkitt J. /. Ba8tibegam v. Banarsiprasad. 5. A. L. J. 305.--S. 59.--Principal--whether includes interest.--Under section 59, transfer of Property Act, as it stood before the amending Act (No. VI) of 1904 came into force, the value of the right, title or interest in immoveable property created by a mortgage is, for the purposes of section 17 (b), Indian Registration Act, 1877, the principal money secured. The court therefore need not inquire what is the least sum whioh the mortgagor will be liable to pay under the mortgage. Interest does not become principal for the purposes of this rule merely because it is calculated in advance and made payable along with the actual principal on a fixed date. Kuar Laxman Rao v. Keshao IV Nag. L. R. 90.----Sees 56, 67, 81 and 88.--Mortgage--Subsequent sale of one of the m...