Bombay Regulation, 1827

Company : Sol Infotech Pvt. Ltd. Website : www.courtkutchehry.com BOMBAY REGULATION, 1827 5 of 1827 [January 1, 1827] CONTENTS CHAPTER 1 :- Limitation 1. . 2. . 3. . 4. . 5. . 6. . 7. . 8. . CHAPTER 2 :- O F ACKNOWLEDGMENTS OF DEBTS EXECUTED WITHOUT RECEIPT OF A FULL CONSIDERATION IN VALUE. 9. First. Proof of amount of debt CHAPTER 3 :- Rate and continuance of Interest 10. . 12. . 13. . CHAPTER 4 :- H O W A CLAIM TO INTEREST IS AFFECTED BY TENDER OF PAYMENT 14. Interest ends upon tender made CHAPTER 5 :- OF THE DISPOSAL OF PROPERTY MORTGAGED OR PLEDGED 15. First BOMBAY REGULATION, 1827 5 of 1827 [January 1, 1827] A Regulation 2 x x x containing rules of judication respecting written acknowledgments of debts executed without receipt of a full consideration, also regarding 2x x x the tendering payment of debts, and the disposal of property mortgaged or pledged. Preamble.- x x x Whereas justice, the interests of trade, and the easy and secure transaction of money-dealings require that the effect of written acknowledgments of debts, when the receipt of a full consideration is contested, should be defined and made know, and that certain provisions should be framed x x x for determining the effects of tenders of payment, and the right of parties concerned in property mortgaged or pledged; the following rules have therefore been enacted x x x CHAPTER 1 Limitation 1. . :- Rep. Act IX of 1871. 2. . :- Rep. Act IX of 1871. 3. . :- Rep. Act IX of 1871. 4. . :- Rep. Act IX of 1871. 5. . :- Rep. Act IX of 1871. 6. . :- Rep. Act IX of 1871. 7. . :- Rep. Act IX of 1871. 8. . :- Rep. Act IX of 1871. CHAPTER 2 OF ACKNOWLEDGMENTS OF DEBTS EXECUTED WITHOUT RECEIPT OF A FULL CONSIDERATION IN VALUE. 9. First. Proof of amount of debt :- Written acknowledgments of debt in any shape shall be held conclusive in a Court of Law as to the amount, if the defendant show that a full consideration has not been received. Second. Proof in case of cultivator sued on writing executed 1[at a place not subject to this Act.].-And in the case of a cultivator of the soil, sued upon a written acknowledgment executed at a place which was not at the time of such execution 2 [subject to this Act], if the circumstances are such as to convince the Court that the creditor might reasonably be expected to possess other proof of the amount besides such written acknowledgment (the consideration received for the same being contested) and then the said writing shall not be held conclusive as to the amount, whether the defendant prove a deficiency in the consideration or not, but the Court shall pass a decree for only such amount as the claimant may otherwise prove to be due. 1. These words were substituted for the words "out of British jurisdiction" by Bom. 18 of 1953, s. 3 and Second Schedule. 2. These words were substituted for the words "under British jurisdiction" by the Adaptation of Laws Order, 1950. CHAPTER 3 Rate and continuance of Interest 10. . :- Rep. Act XXVIII of 1855. 12. . :- Rep. Act XXVIII of 1855. 13. . :- Rep. Act XII of 1873. CHAPTER 4 HOW A CLAIM TO INTEREST IS AFFECTED BY TENDER OF PAYMENT 14. Interest ends upon tender made :- If a debtor can prove that he has tendered to a creditor the whole or any portion of the amount due, all further interest shall cease on the amount tendered. CHAPTER 5 OF THE DISPOSAL OF PROPERTY MORTGAGED OR PLEDGED 15. First :- 1 -When a creditor is placed in possession of property by mortgage or otherwise, a security for a debt, his claim over such property shall, in the absence of other special agreement, constitute his sole security for payment of the debt, or such part of it as the said property may have been given in security for, and interest thereon is to be considered as included in the said security. Second. -If the property yield profit, and no stipulation has been made respecting the disposal of the said profit, or payment of interest on the debt, the profits shall be considered as equivalent for the interest. Third.- In the absence of any special agreement, or recognised law or usage to the contrary, either party may at any time, by the institution of a civil suit, cause the property to be applied to the liquidation of the debt, the surplus, if any, being restored to the owner. 1. S. 15 in repealed by the Transfer of Property Act, 1882 (4 of 1882), in the whole of the State of Bombay other than the Scheduled Districts i.e. the villages belonging to the following Mehwassl Chiefs:- (1) The Parvi of Kathi. (2) The Parvi of Nal. (3) The Parvi of Singpur. (4) The Walwi of Gaohalli. (5) The Wassawa of Chikhli. (6) The Parvi of Nawalpur. See Notification No. 5947, dated the 27th October 1892, Bombay Government Gazette 1892: Pt. I, p. 1071.