Q187
Where a debt is transferred for the purpose of securing an existing or future debt, the debt so transferred, if received by the transferor or recovered by the transferee is applicable first, in payment of cost of such recovery. This is the provision of
A.
Mortgaged debt
AnswerB.
Gift
C.
Auctionable claim
D.
Lease
Answer: Option A
Solution
Answer: Option A
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