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    Question

    The mortgagor binds himself to repay the mortgage-money

    on a certain date, and transfers the mortgaged property absolutely to the mortgagee, but subject to a proviso that he will re-transfer it to the mortgagor upon payment of the mortgage-money as agreed, the transaction is?
    A English mortgage Correct Answer Incorrect Answer
    B Simple mortgage Correct Answer Incorrect Answer
    C Mortgage by conditional sale Correct Answer Incorrect Answer
    D A and B both. Correct Answer Incorrect Answer

    Solution

    A per TP Act, 1882 S.58 . (e) English mortgage.—Where the mortgagor binds himself to repay the mortgage-money on a certain date, and transfers the mortgaged property absolutely to the mortgagee, but subject to a proviso that he will re-transfer it to the mortgagor upon payment of the mortgage-money as agreed, the transaction is called an English mortgage.

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