To solve this, we need to understand the nature of cognizable offences:
1. Step 1: What is a Cognizable Offence?
A cognizable offence is a serious offence where the police have the authority to arrest the accused without a warrant and begin an investigation without the permission of a court. Such offences typically include serious crimes like murder, rape, etc.
2. Step 2: Characteristics of Cognizable Offences.
The police can register an FIR (First Information Report) without prior approval from a court.
The offence is generally considered serious and bailable in some cases.
Cognizable offences do not require prior sanction from the court for investigation.
3. Step 3: Correct Answer Explanation.
Option (2) “Requires prior sanction of court to investigate” is incorrect because cognizable offences do not require court sanction for police to investigate. This is a characteristic of non-cognizable offences.
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.