Correct option is A
Section 37 of the Transfer of Property Act, 1882, is based on the
Doctrine of Contribution. This doctrine applies when there are multiple parties with interests in a property, and some form of revenue compensation (e.g., taxes or charges) is involved. It ensures that the burden of compensation is shared proportionally among the parties having interests in the property.
Information Booster: The
Doctrine of Contribution ensures fairness among co-owners or stakeholders in a property. It dictates that each party must contribute their fair share toward the payment of compensation or expenses, such as taxes or charges, in proportion to their respective interests in the property.
Additional Information:
·
(b) Doctrine of election: Incorrect because this doctrine allows a party to choose between two inconsistent rights, not related to revenue compensation.
·
(c) Doctrine of marshalling: Incorrect as marshalling refers to the arrangement of securities or debts so that one creditor is not disadvantaged by another’s claim, unrelated to revenue compensation.
·
(d) Doctrine of substituted security: Incorrect because this doctrine relates to providing an alternative security when the original security is no longer available, and is unrelated to Section 37.
