Under Section 5 of T.P. Act "Living Person" does include company also:
Verified Answer
A. True
B. False
C. Company is not living person
D. Company cannot transfer its assets
Explanation:
Section 5 of the Transfer of Property Act, 1882, defines 'transfer of property' as an act by which a living person conveys property. The explanation to this section clarifies that 'living person' includes a company or association or body of individuals, whether incorporated or not.