To solve this, let's understand the various theories of punishment:
1. Step 1: Theories of Punishment.
Theories of punishment are based on the purpose of penalizing criminals. These theories can be broadly categorized into several types, each focusing on different aspects of the criminal justice process.
2. Step 2: Analyzing the Options.
Deterrent Theory aims to discourage the offender and others from committing crimes by instilling fear of punishment.
Preventive Theory seeks to prevent the offender from committing future crimes, often by incapacitating them (e.g., imprisonment).
Retributive Theory is based on the idea that punishment is a deserved response to the wrongdoing, aiming for justice rather than rehabilitation or deterrence.
3. Step 3: Why Option (2) is Correct.
Option (2) is correct because it includes three well-known theories: deterrent theory, preventive theory, and retributive theory, which are the primary philosophies guiding punishment in criminal justice.
Under the Transfer of Property Act, 1882 a mortgage is a transfer of an interest in specific immovable property for securing the payment of a debt. Section 58 of the Act enumerates six distinct types of mortgages, each characterized by unique rights and obligations of the mortgagor and mortgagee. These categories reflect the balance of right of alienation and right to hold the property, contingent upon the nature of the transfer. In a simple mortgage, the mortgagor binds himself personally to repay the debt and agrees, expressly or impliedly, that in the event of default, the mortgagee shall have the right to cause the mortgaged property to be sold. There is no transfer of possession.
A mortgage by conditional sale involves an ostensible sale with a condition that upon default of payment, the sale becomes absolute. Courts scrutinize such arrangements to prevent clogs on the equity of redemption. A usufructuary mortgage grants the mortgagee possession and the right to receive rents and profits in lieu of interest or principal, aligning with the maxim, nemo dat quod non habet. It is essential to note that an earlier mortgage takes precedence based on the legal maxim, qui prior est tempore potior est jure. An English mortgage entails personal liability of the mortgagor and an absolute transfer of the property to the mortgagee with a covenant to retransfer upon payment. Other forms include mortgage by deposit of title deeds or equitable mortgage, and anomalous mortgages, which do not fit into the above classifications. These variations reveal the nuanced jurisprudence of secured transactions, balancing contractual freedom with equitable oversight.