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Obla Sundarachariar vs Narayana Ayyar on 13 January, 1931

In Obla Sundarachariar v. Narayana Ayyar, (19331) L.R. 58 I.A. 68 the plaintiff had verbally agreed at Madras to make a further advance to the defendants, making Rs. 60,000 in all, upon the deposit of certain documents of title. The defendants' agent signed and handed to the plaintiff a memorandum stating " As agreed upon in person I have delivered to you the undermentioned documents as security "--a list of the documents following, also a promissory note for Rs. 60,000. After examination of the documents the agreed amount was handed over to the plaintiff. It was held by the Judicial Committee that the memorandum was not a document which required registration, even if the agreed advance was conditional upon it being given; and that, there being no written agreement, the memorandum as well as oral evidence, was admissible in evidence to prove the intent to create a security by deposit of the documents named.
Bombay High Court Cites 5 - Cited by 37 - Full Document
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