Contract Act, 1872, Section 126 -- Contract of guarantee - Though three parties viz. principal debtor, creditor and surety are involved, agreement need not be simultaneous tripartite agreement - Where it is so, signature of principal debtor on deed of guarantee does not transform him into surety - Dismissal of creditor's suit against principal debtor does not absolve..........
Limitation Act, 1963, Article 42, Contract Act, 1872, Section 126 -- Counter guarantee - Given by party to Bank who gave guarantee to creditor on behalf of principal debtor - Limitation for Bank to file suit against party which gave counter guarantee starts running on date on which Bank liquidated its liability under its Bank guarantee in terms of decree passed against it..........
Transfer of Property Act, 1882, Section 122, 123, 124, 125, 126, 127 -- Gift by parent to child - There is a presumption of acceptance of the gift by the donee...........
Transfer of Property Act, 1882, Section 122, 123, 124, 125, 126, 127 -- Gift by donor to minor child - Acceptance - No overt act signifying acceptance by the minor is required...........
Transfer of Property Act, 1882, Section 122, 123, 124, 125, 126, 127 -- Gift - Revocation- Gift to minor son - Acceptance of gift not required when gift is made by parent to child - Non delivery of possession of the gifted property, non exercise of any rights of ownership over it and failure by the donee, on attaining majority in getting his name mutated in official..........
Transfer of Property Act, 1882, Section 122, 123, 124, 125, 126, 127, 6(d) -- Gift - No prohibition in law that ownership in property cannot be gifted without its possession and right of enjoyment - Donor, mother transferred to minor son, ownership and title in respect of her 1/8th share in properties - Donor reserved to herself right to sign papers with respect to..........
Transfer of Property Act, 1882, Section 126 -- Gift revocation - The gift was executed by mother in 1945 to the appellant her minor son who was 16 years at that time - It remained in force for about 25 years during which time the donee had attained majority and had not repudiated the same - Held that it was not competent for the donor to have cancelled the gift and..........
Transfer of Property Act, 1882, Section 126 -- Gift - Of immovable property by donor in lieu of services and maintenance to be provided to her by donee - Possession of land delivered to donee - Gift was complete - No condition of revocation of gift in case donee stopped providing services - Gift cannot be termed as conditional and revocable one...........
Transfer of Property Act, 1882, Section 126 -- Gift - Donor stating gift to be revocable one - Not entering into witness box to support her case - Appearance of special attorney cannot be treated as appearance in the capacity of plaintiff - Such appearance is only as a witness in his personal capacity - Adverse inference can be drawn against donor - Donor not entitled to..........
Transfer of Property Act, 1882, Section 126 -- Gift - Of immovable property by donor in lieu of services and maintenance to be provided to her by donee - Three months thereafter agreement executed that in case donee failed to maintain her then gift would be revoked - Deed of gift and agreement do not form part of same transaction and cannot be read together and given..........
