Reference Under Stamp Act - Court Judgment

SooperKanoon Citationsooperkanoon.com/791744
SubjectProperty
CourtChennai
Decided OnNov-15-1897
JudgeShephard, ;Subramania Ayyar, ;Davies and ;Boddam, JJ.
Reported in(1898)ILR21Mad358
AppellantReference Under Stamp Act
Excerpt:
stamp act - act i of 1879, section 3, clauses (12), (13)--lease--mortgage. - 1. in our opinion this is a usufructuary mortgage under which the rents and profits were estimated to satisfy both principal and interest, and accordingly no accounting on either side would become necessary. the case is quite different from that to which the board refer.
Judgment:

1. In our opinion this is a usufructuary mortgage under which the rents and profits were estimated to satisfy both principal and interest, and accordingly no accounting on either side would become necessary. The case is quite different from that to which the Board refer.