Right of subrogation
This query is : Resolved
Guest
Guest
(Querist)
20 November 2009
what is Right of Subrogation regarding Banking?plz explain with an example.
CS Vandana Kacholia
(Expert)
20 November 2009
Simply stated, the right of subrogation is the right to pursue someone else's claim. If you are subrogated to someone's claim, it sounds as though you are somehow subordinated to it -- but that's not what it means. It means that you may pursue it as though it were your own. It can arise by the express agreement of the parties, or automatically by operation of law.
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