Property and Trust Law

Subject to the provisions of Sale of Goods Act, 1930 and of any law for the time being in force, notwithstanding that the property in the goods may have passed on to the buyer, the unpaid seller of goods, as such, has by implication of law — (a) a lien on the goods for the price while he is in possession of them; (b) in case of the insolvency of the buyer, a right of stopping the goods in transit after he has parted with the possession of them; (c) a right of resale as limited by this Act.

Thus, option (4) is the correct answer.

Obviate means avoid, solve or prevent.

Clayton's Case (1816) established the rule of appropriation in banking - when a customer has multiple debts and makes a payment without specifying which debt it applies to, the bank applies it to the earliest debt chronologically (first in, first out). This principle is fundamental to appropriation of payments.

When an individual dies and there is no legal heir and will which relates to his property, then according to the provision of Hindu Succession act, the property is transferred to the state. This is known as escheat.

Property transferred by way of theft, extortion or robbery is called as stolen property.

A gift will not be valid without delivery of possession.

All of the above

All of the above are examples where property is undivided.

A gift can be revoked by the donor anytime whether before or after the delivery of possession of the gift is made.

Under Muslim law, Mushaa means an undivided share in property.

It is the joint property in Hindu undivided family. Thus (1) is the correct option. It is not the self acquired or separate property.

Theft or attempted theft from yards, gardens, open spaces or out-buildings unless the contents thereof are specifically insured by the policy are not payable under Burglary (Business Premises) policy.

The guardians of the property of a minor are called legal guardians. Father and father's father are the legal guardians of the property. Father and father's father are entitled to appoint the executors under a will.

Under all of the above circumstances, the legal guardian may alienate the immovable property of a minor.

A de facto guardian is merely a custodian of the person and property of the minor; he or she has no rights, but only obligations in comparison to rights and duties of a natural or legal guardian. He may alienate the movable property of the minor in case of necessity, but he cannot alienate the immovable property. An alienation of the minor's immovable property without the authority of the court by a de facto guardian is absolutely void.