Mr. Sanjay Kothari was a big businessman having two sons and one married daughter. He decided to gift his house to his daughter. For this purpose,…
CA Foundation · Business Laws · RTP · June 2024
Mr. Sanjay Kothari was a big businessman having two sons and one married daughter. He decided to gift his house to his daughter. For this purpose, he called his lawyer at his house and made a written document for such gift. The lawyer advised him to get the transfer document properly registered. When they both were going for registration of document, they met an accident, and both died. Later, the daughter found the document and claimed the house on the basis of that document. Explain, whether she can get the house as gift under the Indian Contract Act, 1872?
Suggested Answer and Working Notes:
Perpetual succession in LLP: The death, insanity, retirement or insolvency of the partner(s) does not affect its existence of LLP. Members may join or leave but its existence continues forever. Perpetual succession in Partnership (implied comparison): The death, insanity, retirement or insolvency of the partner(s) may affect its existence. It has no perpetual succession.
Topics: The Indian Contract Act, 1872
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