a) Explain Doctrine of Contribution?
If several properties belonging to several persons are mortgaged to secure a debt due to taking of a loan, the law says that each property should contribute towards the debt in proportion to its value. This is called the doctrine of contribution.
b) State the rule related to consideration in a lease agreement as given in the definition of lease.
The consideration for lease is either premium or rent, which is the price paid or promised in consideration of the demise. The premium is the consideration paid of being let in possession, such as Salami, even if it is to be paid in instalments.
c) State the rule relating to notice of transfer of actionable claim
- The notice of transfer of the actionable claim has to be made in writing.
- It must be signed by the transferor or his agent authorised on his behalf.
- However, if the transferor refuses to sign it, then, in that case, it must be signed by the transferee of actionable claim or his duly authorised agent.
d) What is meant by accession to mortgaged property and who has right over it?
Under Section 70 of TOPA if, after the date of a mortgage, any accession is made to the mortgaged property, the mortgagee, in the absence of a contract to the contrary, shall, for the purposes of the security, be entitled to such accession.
Illustrations
(a) A mortgages to B a certain field bordering on a river. The field is increased by alluvion. For the purposes of his security, B is entitled to the increase.
(b) A mortgages a certain plot of building land to B and afterwards erects a house on the plot. For the purposes of his security, B is entitled to the house as well as the. plot.
e) State three methods of acquisition of easement
There are several methods by which easements may be acquired. They are:
- Express grant
- Implied grant
- Presumed grant
- Acquisition by prescription
- Customary easement
- Transfer of dominant heritage
- Imputed grant Statute
f) Explain the doctrine of feeding the grant by estoppel
Feeding grant by estoppel means the grant by an incompetent person who makes the other believe that he is competent. The estoppel is fed when the incapacity is removed and he is estopped from claiming his incompetency at the time of initial transfer.
g) What is the meaning of transfer in TOPA
Under Section 5 of TOPA “transfer of property” means an act by which a living person conveys property, in present or in future, to one or more other living persons, or to himself, or to himself and one or more other living persons; and “to transfer property” is to perform such act.
h) What are restrictive covenants?
A restrictive covenant is a promise included in a legal agreement that prevents one party to the contract from taking a specific action. When a party enters into a restrictive covenant, he/she agrees to refrain from doing something or from using a property in a certain way that is restricted by the contract.
i) What does expression attached to the earth means in TOPA
Section 3 “attached to the earth” means—
- rooted in the earth, as in the case of trees and shrubs;
- imbedded in the earth, as in the case of walls or buildings; or
- attached to what is so imbedded for the permanent beneficial enjoyment of that to which it is attached;
j) What is meant by clog on the right to redemption?
Section 60 states about the right and explains about the things which are to be returned to mortgagor on payment of money. The mortgagor in any case cannot be deprived of his right. Any such condition that restricts the mortgagor from redeeming his property back from the mortgagee is known as Clog on Redemption.