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Section 45 - Devaluation of joint rights : Indian Contract Act 1872

What is Devaluation of joint rights? Section 45 of Indian Contract Act 1872


Section 45 of Indian Contract Act 1872 : "Devaluation of joint rights"

45. When a person has made a promise to two or more persons jointly, then, unless a contrary intention appears from the contract, the right to claim performance rests, as between him and them, with them during their joint lives, and, after the death of any of them, with the representative of such deceased person jointly with the survivor or survivors, and, after the death of the last survivor, with the representatives of all jointly.

A, in consideration of 5,000 rupees, lent to him by B and C, promises B and C jointly to repay them that sum with interest on a day specified. B dies. The right to claim performance rests with B's representative jointly within C during C's life, and after the death of C with the representatives of B and C jointly.

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