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Obligor

any obligation in respect of a financial asset, whether existing, future, con-ditional or contingent and includes the borrower. [Securitisation and Reconstruction

Payable

word 'payable' may signify an obligation to pay at a future time but when used without qualification in payable at once,

Penal Servitude

where under any Act now in force or under any future Act a Court is empowered or required to award a

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Property

money, whether secured or unsecured, (iv) receivable, whether existing or future; (v) intangible assets, being know-how, patent, copyright, trade mark, licence,

Perpetuity

AIR 1967 SC 744: (1967) 1 SCR 293. Is a future limitation, whether executory or by way of remainders, and of

Plene administravit

6, to have judgment for his debt and costs of future assets quando acciderint; or he may take issue on the

Current official scale of rates

the rate obtaining at a particular time or at a future time or from time to time. The terms goes well

Quality of estate

conferred upon the owner, whether at present or in the future, Black's Law Dictionary, 7th Edn., p. 1255. The period when,

Real Property Act, 1845

of leases must be by deed. A contingent executory and future interest in land and a possibility coupled with an interest

Reasonable

maybe a present need or within reasonable proximity in the future. The word 'reasonable' connotes that the requirement or need is

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