MIDAS TOUCH: Midland Bank Ltd v. Makin (1978)
property clat_ug beginner real_caseYeh case bahut hi significant hai property law mein. Makin, a property owner, sold his land to Midland Bank as a security for a loan. But when the loan was repaid, the bank refused to return the land, claiming the property was still in their possession. Section 29(2) of the Transfer of Property Act, 1882 (TPA) comes into play here. It says that if a property is sold as a security, the sale is revocable unless the debtor has obtained possession of the property or the creditor has received the sale proceeds. SC agreed with Makin, ruling in his favour. Community, agree or disagree: is Section 29(2) clear enough in its provisions?
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Maine kaha nahin hai ki decision theek nahin tha, lekin main ye manata hai ki case ke baare mein yeh vichaar theek nahin hai. Makin ne insurance policiy ke terms and condition par basekar khaamosh rahkar khatarnaak karnama karte hue mare gaye, aur court ne unki family ko compensation di. Yeh ek aadarsh decision hai, naa hi aam taur par khatarnaak karnama par bharosa rakhne wali.