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TMI Blog1912 (11) TMI 1X X X X Extracts X X X X X X X X Extracts X X X X ..... in Court to abide the result of the action. It represents the net proceeds of a policy of insurance on the life of Dwarkadas Dharamsey who died on 8th August 1909. 2. The appellant bases his claim on an assignment in writing under the hand of Dwarkadas Dharamsey, dated the 13th of August 1909. It is in form an absolute assignment, and was according to the evidence given under pressure from the ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ecame indebted to the respondent, and it is claimed that the deposit was made on the terms that it should act as security not only for the then existing debt but for any indebtedness that might subsequently arise. Whether or not this contention of fact is established is not in their Lordships' opinion material. 4. The decision of the matter in issue turns entirely on the interpretation of Sec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shall (save where the debtor or other person is a party to the transfer or has received express notice thereof as hereinafter provided) be valid as against such transfer. 5. It is admitted that the right to the monies becoming due under the policy is an actionable claim. Their Lordships are also of opinion that the section covers transfers by way of security as well as absolute transfers. If any ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... icy. 8. The decision of the Court below was therefore erroneous. The error arose from the learned Judges not having appreciated that the positive language of the section precluded the application in India of the principles of English Law on which they based their decision. 9. Their Lordships will therefore humbly advise His Majesty that the appeal be allowed, and that it be declared that the app ..... X X X X Extracts X X X X X X X X Extracts X X X X
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