Q806
A takes a loan of Rs. 5,000 from Band mortgages his house as security. In the mortgage deed, it was also mentioned that if he could not pay the amount within 5 years, then B will have right to sell the house and recover his amount. If the money could not be recovered from sale of house, then A will be personally liable. It is
A.
Mortgage by conditional sale
B.
English mortgage
C.
Usufructuary mortgage
D.
Simple mortgage
AnswerAnswer: Option D
Solution
Answer: Option D
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