Karachiwalla v Nanji and Others
Karachiwalla v Nanji and Others (Civil Appeal No. 6 of 1955) [1950] EACA 112 (1 January 1950)
The court held that the mortgage money had become payable due to the appellant's defaults under the mortgage deed, and there was no contractual provision that precluded the mortgagee from seeking an order for sale under section 67 of the Indian Transfer of Property Act, 1882. The relevant clauses in the mortgage deed, when read together, qualified but did not negate the right to enforce repayment and sale upon default. The court further found that the alleged compromise was not a concluded agreement, as the settlement was contingent upon execution of a fourth mortgage, which was never finaliz…
Source excerpt
- Mortgage Default
- Power Of Sale
- Contractual Settlement
- Order For Sale