Where a debt is transferred for the purpose of securing an existing or future debt,

Where a debt is transferred for the purpose of securing an existing or future debt, the debt so transferred,
if received by the transferor or recovered by the transferee is applicable first, in payment of cost of such recovery. This is the provision of
a) mortgaged de
b) gift
c) actionable claim
d) lease

Anurag Mishra Professor Asked on 10th March 2016 in Economics.
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    Answer: (a) mortgaged de 

    Anurag Mishra Professor Answered on 11th March 2016.
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