Detailed notes on the ACTIONABLE CLAIM, Study notes of Property Law

Download Detailed notes on the ACTIONABLE CLAIM and more Study notes Property Law in PDF only on Docsity!

ACTIONABLE CLAIM

RAJKUMAR

 Section 3 of Transfer of Property Act, 1882 defines ; “actional claim means a claim to any debt , other than a debt secured by mortgage of immovable property or by the hypothecation or pledge of movable property , or to any beneficial interest in movable property not in the possession, either actual or constructive , of the claimant, which the civil courts recognises as affording grounds for relief, whether such debt or beneficial interest be existent, accruing ,conditional or contingent.

SECTION 3

 An Actionable Claim comprises of –  a claim to unsecured debt or;  a claim to any beneficial interest in movable property not in actual or constructive possession of the claimant.

ACTIONABLE CLAIM

 A Claims for arrears of rent;  A share in partnership;  (^) A Claim for money due under any insurance policy;  (^) A claim for rent to fall due in future accruing debt;  (^) A Claim for the return of earnest money;  (^) A Claim for unpaid dower of a Muslim Woman;  A right to get back the purchase-money when sale is set aside;  A benefit of an executory contract for the purpose of goods is a beneficial interest in the movable property;  (^) A right to proceeds of a business_._

CLAIMS WHICH ARE HELD TO BE

ACTIONABLE CLAIM

 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, shall be complete and effectual upon the execution of such instruments, and thereupon all the rights and remedies of the transferor, whether by way of damages or otherwise, shall vest in the transferee, whether such notice of the transfer as is hereinafter provided be given or not:

TRANSFER OF ACTIONABLE

CLAIM

 Provided that every dealing with the debt or other actionable claim by the debtor or other person from or against whom the transferor would, but for such instrument of transfer as aforesaid, have been entitled to recover or enforce such debt or other actionable claim, shall (save where the debtor or other person is a party to the transfer or has received express notice thereof as hereinafter provided) be valid as against such transfer.

TRANSFER OF ACTIONABLE

CLAIM

 The provisions of Sections 130 to 136 of the Transfer of Property Act, 1882 dealing with transfer of actionable claim do not apply to stocks, shares or debentures , or to instruments whish are for the time being , by law or custom, negotiable ,or to any mercantile document of title to goods.

SECTION 137