Antecedent debt means a debt which is antecedent in fact as well as in time, i.e., the debt must be truly independent of, and not part of, the transaction impeached. (Brij Narain Rai v. Mangla Prasad, 51 I.A. 129) The prior debt must be independent of the second debt, and the transaction must be dissociated […]
What is an ‘Antecedent Debt’?
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What is ‘Avyavaharika’ Debt?
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Generally speaking, a debt is said to be “avyavaharika” when it is “repugnant to good morals”. In considering this question, “one principle is firmly established, namely, that the son would not be liable for a debt incurred by the father in circumstances which would render the father liable to a criminal prosecution; but he would […]
What are the Liabilities to Pay the Debts under Dayabhaga Law?
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Under the Dayabhaga Law, the manager can contract debts for the family purposes and business, and such debts are binding on all the members of the family. (Incidentally, the position is also the same under the Mitakshara Law.) (more…)