According to Section 2(5) of the Indian Stamp Act, 1899, the term **"b…

Question

According to Section 2(5) of the Indian Stamp Act, 1899, the term **"bond"** includes which of the following, but does NOT include which other instrument?

Accepted Answer

A. {'text': 'Includes any instrument whereby a person obliges himself to pay money to another on condition that the obligation shall be void if a specified act is performed; but does NOT include a debenture', 'label': 'A'}

1. Section 2(5) of the Act defines "bond" inclusively.
2. "Bond" includes (a) any instrument whereby a person **obliges himself to pay money to another on condition** that the obligation shall be void if a specified act is performed (or is not); (b) any instrument attested by a witness not payable to order or bearer whereby a person obliges himself to pay money to another; (c) any instrument so attested obliging himself to deliver grain or other agricultural produce.
3. The definition expressly **excludes a debenture**.
4. The word "oblige" is critical — the document must itself create the obligation, not merely reproduce one.
_Source: ICSI CS Executive Paper 1 — Jurisprudence, Interpretation & General Laws, Lesson 14 (Indian Stamp Act, 1899), pp. 337-353._

Answer

{'text': 'Includes any debenture, bill of exchange or promissory note under any provision of any law in force in any State of India regardless of any other consideration of any kind under any law in force in any State of India', 'label': 'B'}

Answer

{'text': 'Includes any cheque, hundi or other negotiable instrument under any provision of any law in force in any State of India regardless of any other consideration of any kind under any law in force in any State of India', 'label': 'C'}

Answer

{'text': 'Includes any acknowledgement or receipt of money under any provision of any law in force in any State of India regardless of any other consideration of any kind under any law in force in any State of India', 'label': 'D'}