Deficiency
Legal definition for Indian law research
Definition
Deficiency, means any fault, imperfection, shortcoming or inadequacy in the quality, nature and manner of performance which is required to be maintained by or under any law for the tie being in force or has been undertaken to be performed by a person in pursuance of a contract or otherwise in relation to any service. [Consumer Protection Act, 1986 (68 of 1986), s. 2 (1) (g)]
That part of debt secured by mortgage not realised from sale of mortgaged property. A judgment or decree for the amount of such deficiency is called 'a deficiency judgment' or decree (stroud)
That part of debt secured by mortgage not realised from sale of mortgaged property. A judgment or decree for the amount of such deficiency is called 'a deficiency judgment' or decree (stroud)
Definitions are for legal research. Always verify meaning in the context of the statute, judgment, or jurisdiction cited.