AVTS sUMARRYAE 237

Forfeiture of lease : A lease determines (.e. terminates) by forfeiture in

three cases:
(i) if the lessee breaks an express condition, which provides that on
breach of the condition, the lessor may re-enter;
(iü) if the lessee renounces his character,
(a) by selling up a title in a third person; or
(b) by claiming title in himself;
(ii) if the lessee is adjudicated insolvent, and the lease provides that if
endo e that happens, the lessor may re-enter.
However, in all such cases, the lessor must give notice in writing to the
lessee of his intention to terminate the lease. heoeip iephncno he
A forfeiture is waived in three cases:

() byacceptance of subsequent rent; or

(i) by distress for such rent; or
(i) by any action on the lessor's part showing an intention to treat the
lease as subsisting.
Holding over (Tenancy-at-will)
Ifthe lessee remains in possession of the property after the termination
of the lease,and the lessor accepts the rent (or otherwise assents to the lessee's
continuing in possession), the lease is renewed (from year to year, or month to
month, as the case may be). uler brE n0 ic
EXCHANGE008
(Ss. 118-121)
In an exchange,
two persons mutually transfer the ownership of one thing for the
Ownership of another thing, andc olo eer
neither thing or both things are money only.
An exchange is to be made in the same manner as a sale.
If any party to an exchange is deprived of the property due to a defect in
the title of the other party, such other party is liable to him:
(a) for any loss caused thereby;or
(b) at the option of the party so deprived, for the return of the thing
transferred, if it is still in the possession of (i) the other party, (ii) his
legal representatives, or (ii) a transferor from him without
consideration.
Each party to an exchange has the rights and is subjected to the liabilities
a
of a seller as regards that which he gives, and the rights and liabilities of
buyer as regards that which he takes.
 238 THE TRANSFER OF PROPERTY ACT

When there is an exchange of money, each

the genuineness of the money given by him. party is deemed to
warrant
GIFTS
(Ss. 122-129)
A
gift is the transfer of property made -
()) voluntarily, and
(ii) without consideration,
by one person (donor) to
another person (donee), and accepted by the
MCQ No. 141
tThis acceptance must be made during the donee
is still capable donor's lifetime, and
before acceptance, the giftwhilewillbehe
of giving. If the donee dies
void.
Agift of immovable property can be
signed bythe donor and attested by two made only by a registered instrument
witnesses.
Agift of movable property can be made by a
and attested as registered instrument signed
above, or by the delivery of the property.
Onerous gifts
1. If the gift is one single transfer, and a
part of it is burdened with an
obligation, the donee gets nothing unless he accepts it fully.
2. But if the gift is in the form of two or
more separate and
transfers, he can accept one and refuse the others. independent
3. If a donee who is not competent
accepts an onerous gift, he is not
bound by his acceptance. But, if after becoming competent to contract,
he retains the property, being aware of the obligation, he is bound by
the obligation.
Universal donee
Ifa gift consists of the donor's whole property, the donee is personally
liable for all the debts of the donor at the time of the gifts, to the extent of the
property comprised in the git.eDl o
Revocation (or suspension) of gifts
Once a gift is made, it is irrevocable except in two cases:
1. When the parties agree that on the happening of a specified event
(not dependenton the donor's will), the gift is to stand suspended o
revoked.
can be
2. Agift can also be revoked in those cases in whicha contract
rescinded (e.g. for fraud, misrepresentation, etc.) transferee for
These rules do not, however, affect the rights of a
consideration without notice.
 SUMARRY 239

covered bytheAct
s not provisions do not
Theabove in contemplation of death; or
to gifts ofmovable
mo property made
() apply Muhammadan law.
of
() affect any rule
ACTIONABLE CLAIMS
(S. 130-137)

Definition
claim is a claim to:
An actionable secured -
being a debt
(a) any debt, not immovable property, or
mortgage of
() by pledge of movableproperty;or
(i) by
hypothecation or property which is not in the
movable
any beneficial interest in
(b) claimant, relief. The debt or
possession of the grounds for
courtsrecognise as affordingconditional orcontingent.
Wnich the civil may be existent. accruing,
beneficial interest
instrument in writing
Transfer, how effected transferred only by an
claim can be
Anactionable
signed by the transferor. transferee.
transferorvestin the transferor's
Rights of transferee remedies ofthe withoutthe
(ii)
rights and own name, tothesuit.
I. All () in his
cansue makinghim a party insurance
The transferee marine or fire
2. without
Consent,and (iii) transfer of a
applyto the
(These rules do not equities
and
liabilities
policy.) the
all
subjectto
Liability of transferee transfer
takesthe
The transferee subject. asifthe
transferor was policies rights of suit
to which the fire the
marine and policyhasall
of orfire him.
Rights of assigneeofa marinemade with buying,
dssignee been clalms
from
debarredenforced ina
contract had actionable Officersare be
insurance deal/in Court claimcan
t to and such
Court officers not practitioners andno
claims,
legal
Judges, in, actionable
or trafficking theirinstance.
cOurt of law attt
240 THE TRANSFER OF PROPERTY ACT

Saving of negotiable instruments etc.

The above provisions do not apply to stocks, shares,
negotiable instruments.e debentures and