Capital leasing is a lease in which the lessor undertakes to transfer ownership rights to the lessee at the end of the lease period. The leasing of funds or financing is long-term and cannot be cancelled. Description: In the case of a capital lease, the lessor transfers ownership of the asset to the lessee at the end of the lease period. The lease agreement gives the lessee a Bargai Sir Pramada Charan Banerjee opinion on mortgage law in the reported case Balkishan vs Legge[viii] were an example of a clear presentation of the conditional sale mortgage law, commonly known as “bye bil wafa” in that state. Privy Council upheld the decision on appeal. His judgment on various aspects of property rights in general and this aspect of a mortgage, i.e. the conditional transfer mortgage in particular, is respected in the same way by courts and lawyers throughout the country. Madras High Court in one case[xi] then decided that the rate did not apply to mortgages processed in accordance with section (c) of section 58 of the Act and was therefore not relevant for mortgages by conditional sale, as had been found in earlier judgments of Calcutta High Court, and this opinion on the sentence was reiterated by the Gujarat High Court in a later case [xii]. Personal liability was not addressed in the definition of mortgages made by conditional sales and, in the pioneer case, the balcishen vs. Legge[xiii] were not declared as an integral part of the transaction.
The field of transactions covered by a mortgage is very broad and includes, among others, usufruct mortgages, abnormal mortgages and conditional sale mortgages, which is the subject that must be dealt with in this document. Before looking at a certain type of mortgage, it is important to understand how a mortgage is generally defined by the black letter of the law. If the seller has the resources and legal right to sell the goods on credit (which normally depends on a licensing system in most countries), the seller and the owner are the same person. However, most sellers prefer to receive a cash payment immediately. To do this, the seller transfers ownership of the goods to a financial company, usually at a discounted price, and it is this company that rents and sells the goods to the buyer. This introduction of a third party complicates the transaction. Suppose the seller makes false claims about the quality and reliability of the goods that induce the buyer to “buy.” In a traditional sales contract, the seller is liable to the buyer if these presentations prove to be false. But in this case, the seller who makes the representation is not the owner who sells the goods to the buyer only after all the instalments have been paid. To remedy this situation, some jurisdictions, including Ireland, make the seller and the financial house jointly and severally liable for any breach of the sales contract. A conditional offer is an agreement between two parties for an offer to be made if a particular condition is met. Conditional offers are used in real estate transactions in which a buyer`s offer for a home depends on the need to do something for the purchase to pass. In other words, something must be done before concluding a sales transaction.
The same applies to car purchase contracts. In some states, buyers can distribute the car from the land by signing a conditional sales contract. These contracts are usually signed when the funding is not yet complete. However, the title and registration of the vehicle remain in the name of the dealer who has the right to take back the vehicle if the conditions are not met. . . .