Indian Kanoon - Search engine for Indian Law

".........In English law as soon as the property comes into existence and is capable of being identified, equity taking as done that which ought to be done fastens upon the property, and the contract to assign thus becomes a complete equitable assignment; and so in a recent case, Viscount Cave said-- 'When a person executes a document purporting to assign property to be afterwards acquired by him, that property on its acquisition passes in equity to the assignee'. The Calcutta High Court has followed the English decisions...... and held that a transfer of non-existent or, as it is conveniently called, after acquired property, provided it is not of the nature contemplated in Section 6(a), is perfectly valid and is to be regarded in a Court as a contract to transfer after the vendor acquires the title and will fasten upon the property as soon as the vendor acquires it."