https://www.taxtmi.com/caselaws?id=289028 The court upheld the validity of an equitable mortgage on joint family property, ruling that the mortgage was binding on the share of a family member. It determined that the debt secured by the mortgage was payable even if not demandable, emphasizing the enforceability of trade debts. The court also found that subsequent borrowings were intended to maintain a floating account, supporting the mortgage. It highlighted the interdependence of family estate and business in Hindu law, allowing borrowing for family business continuation. The appeal was dismissed, affirming the trial court's decision on the equitable mortgage and debts in the context of family businesses. en-us Tue, 21 Dec 1926 00:00:00 +0530 Fri, 10 Jul 2020 11:25:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289028 The court upheld the validity of an equitable mortgage on joint family property, ruling that the mortgage was binding on the share of a family member. It determined that the debt secured by the mortgage was payable even if not demandable, emphasizing the enforceability of trade debts. The court also found that subsequent borrowings were intended to maintain a floating account, supporting the mortgage. It highlighted the interdependence of family estate and business in Hindu law, allowing borrowing for family business continuation. The appeal was dismissed, affirming the trial court's decision on the equitable mortgage and debts in the context of family businesses. Case-Laws Indian Laws Tue, 21 Dec 1926 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289028