illustrations
(i) A owes money to B , who transfers the debt to C. B then demands the debt from A , who, not having received notice of the transfer, as prescribed in section 131, pays B . The payment is valid, and C cannot sue A for the debt.
(ii) A effects a policy on his own life with an Insurance Company and assigns it to a Bank for securing the payment of an existing or future debt. If A dies, the Bank is entitled to receive the amount of the policy and to sue on it without the concurrence of A s executor, subject to the proviso in sub-section (1) of section 130 and to provisions of section 132.
[130-A] . Transfer of policy of marine insurance.
Section 130 • The Transfer Of Property Act, 1882
130. Transfer of actionable claim.
transfer-of-property-act-1882-sec-130.json
•
Section 130
{
"act_title": "The Transfer Of Property Act, 1882",
"act_slug": "transfer-of-property-act-1882",
"section_label": "Section",
"section": {
"number": "130",
"title": "130. Transfer of actionable claim.",
"chapter": null,
"content": "illustrations\n(i) A owes money to B , who transfers the debt to C. B then demands the debt from A , who, not having received notice of the transfer, as prescribed in section 131, pays B . The payment is valid, and C cannot sue A for the debt.\n(ii) A effects a policy on his own life with an Insurance Company and assigns it to a Bank for securing the payment of an existing or future debt. If A dies, the Bank is entitled to receive the amount of the policy and to sue on it without the concurrence of A s executor, subject to the proviso in sub-section (1) of section 130 and to provisions of section 132.\n[130-A] . Transfer of policy of marine insurance.",
"footnote": "",
"is_definition": false,
"sort_order": 109
},
"prev_section": "129",
"next_section": "131"
}