GENERAL KNOWLEDGE

Detailed explanation-1: -Transfer of property act primarily applies to the transfer of immovable property. The act, however, does not cover property transfers by the operation of law, i.e., transfer in the form of forfeiture, sale via the execution of an order, inheritance or insolvency.

Detailed explanation-2: -A banker’s lien, when it is not excluded by special contract, express or implied, extends to all bills, cheques, and money entrusted or paid to him, and all securities deposited with him, in his character as a banker.

Detailed explanation-3: -Section 54 provides essentials for a sale of immovable property and Section 55 deals with rights and duties of buyer and seller (parties to sale).