Sudhir Sachdeva Law Classes 9999997086

Stamp Act 1899

CS Executive- Jurisprudence Interpretation and General Laws Page 1

Sudhir Sachdeva Law Classes 9999997086

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Sudhir Sachdeva Law Classes 9999997086

QUESTION-1 What do you mean by instruments?

ANSWER
Instrument {Section • “Instrument” includes
2(14)} • every document by which
• any right or liability is,
o created, transferred,
o limited, extended,
o extinguished or recorded.

• An instrument includes
o conveyances,
o leases,
o mortgages,
o promissory notes and
o wills,
but not ordinary letters or memoranda or
accounts.

• An unsigned draft document

An unsigned draft document is not an “instrument”
(because it does not create any right, etc).

• A letter acknowledging receipt of a certain

sum borrowed
o A letter which acknowledges receipt of a
certain sum borrowed
o at a particular rate of interest and
o for a particular period and
o that it will be repaid with interest on the
due date
o is an “instrument”.

Case Study Ashok Kalam Capital Builders v. State

In this case it was held that Photocopy of an agreement is NOT
an instrument.

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CS Executive- Jurisprudence Interpretation and General Laws Page 3
Sudhir Sachdeva Law Classes 9999997086

QUESTION-2 WHAT IS MEANT BY CONVEYANCE?

ANSWER
Conveyance [Section • The term “conveyance” includes
2(10)] • a conveyance on sale and
• every instrument by which property
• (whether movable or immovable)
• is transferred during lifetime.

• It does not include a will.

• Thus, all transfers of property

• whether movable or immovable,
• on sale, are known as conveyances.
• Examples:-
1. Sale Deed,
2. Exchange deed,
3. Gift deed,
4. Lease deed,
5. Mortgage deed,
6. Transfer deed etc.

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QUESTION-3 WHAT IS MEANT BY THE WORDS “EXECUTED” AND “EXECUTION”?

ANSWER
Executed / Execution The words

• “executed” used with reference to instruments,

means “signed” and
• “execution” “means “signature”.

• Signature includes mark by an illiterate person.

• An instrument which is chargeable with stamp
duty only on being “executed” is not liable to
stamp duty until it is signed.

CS Executive- Jurisprudence Interpretation and General Laws Page 4

Sudhir Sachdeva Law Classes 9999997086

Sudhir Sachdeva Classes

Call 9999997086 to buy CA CS CMA Video Lectures
Click for FREE Videos Lectures
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CS Executive- Jurisprudence Interpretation and General Laws Page 5