9911796707
TMI Blog1928 (12) TMI 3X X X X Extracts X X X X X X X X Extracts X X X X ..... 3rd October 1922, a Division Bench of this Court ordered that, under the provisions of Order 22, Rule 8, Civil P.C. the appellants should deposit security for the costs incurred by the plaintiff-firm both in the trial and the appellate Courts to the amount of ₹ 1,400 within a period of three weeks from the date of the said order. This order had been complied with and security for the required amount has been deposited within the prescribed period in the trial Court. 3. The facts leading up to the present litigation are simple. On 15th September 1922, defendant 1 executed a promissory note in favour of the plaintiff firm. On the same date a beechak was sent by defendant 1 to the plaintiff. It is printed at p. 27 of the paper book: bu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... if this argument were to be accepted, the result would be that the payment of the amount due on the promissory note out of the timber of the Unadi Jungle would depend entirely upon the volition of the defendants who by deferring to take any action in connexion with the removal of the wood from the Unadi Jungle would be able to keep the plaintiff out of the his money for an indefinite period of time. 5. Mr. Badri Das attacked the finding of the Court below on the further ground that the timber, which the defendants had in the Unadi Jungle, had not been appropriated and, in fact, had not been removed by defendant 1, and, therefore, the plaintiff cannot seek to impose a charge upon something which has not been ascertained. We shall show prese ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that: the assignment of future book debts, though not limited to book debts in any particular business, was sufficiently defined and passed the equitable interest in book debts incurred after the assignment, whether in the business carried on by the mortgagor at the time of the assignment or in any other business. 9. In Tancred v. Delagoa Bay and East Africa Ry. Co. [1898] 23 Q.B.D. 239, it was held that: a document given "by way of charge" is not one which absolutely transfers the property with a condition for reconveyance, but is a document which only gives a right to payment out of a particular fund or particular property, without transferring that fund or property. 10. In Bansidhar v. Sant Lal [1888] 10 All. 133, a pers ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... endants the whole of the amount incurred on account of the costs of the appeal. 14. It was held that the transaction was substantially a contract to appropriate what may be realized under the final decree first towards the repayment of the money advanced. It was further held that, though at the date of the agreement, the fund out of which the advance was to be repaid had not come into existence and, though it might possibly never come into existence afterwards, yet that circumstance is not sufficient to prevent the charge taking effect against the fund when it subsequently came into existence. This case, therefore, besides supporting the proposition of law that a charge can be created upon property which may possibly never come into existe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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