Can a money decree be sold ?

mintu (Querist) 02 June 2010 This query is : Resolved
Dear Ld. Friends,

I have a query. Please tell me whether a money decree/arbitral award passed in favour of an individual by a court/tribunal such as arbitral can be sold to another individual.

Is there any requirement of license for purchasing money decree passed in favour of another individual?

I think T P Act does not prohibit it.

Please refer relevant law(s).

Thanks in advance for your great contribution

mintu

Follow Query

Report Abuse

Daksh (Expert) 02 June 2010
Dear Mintu,
It can be done by way of a Special Power of Attorney and consideration in lieu thereof.
Best Regards
Daksh

bhagwat patil (Expert) 02 June 2010
IT can be sold or discounted.

N.K.Assumi (Expert) 02 June 2010
Why not, provided there are good purchaser woth selling it.

adv. rajeev ( rajoo ) (Expert) 02 June 2010
You cannot sell the money decree/award, If you sold it the benefit of the decree will not be available to the person who purchased the decree.
The benefit of the decree will be available to only the decree holder not to the third person.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now