Other Laws

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 January 2011 What is the difference between-
1.Judicial,non judicial stamp and Revenue stamp
2.Negotiable and non negotiable instrument
3.Leave and License agreement and Lease Agreement.

Manmohan ACA, CS

Manmohan ACA, CS (Expert)
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12 January 2011 judicial papers/stamps are used. Some thing with which is related to the transfer of property, commerciall agreements, Power of Attorney etc, even wills
and nonjudicial stamp papers are only documents which can be registered and thus become valid legal documents

Manmohan ACA, CS

Manmohan ACA, CS (Expert)
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12 January 2011 A negotiable instrument is something which can be exchanged for goods and which is transferable . Examples are banknotes, cheques and bearer bonds. On the contrary Document of title (such as an air waybill) or a financial instrument (such as a crossed check) that may not be transferred from the holder or named party to another are non-negotiable instrument.

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Manmohan ACA, CS

Manmohan ACA, CS (Expert)
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12 January 2011 A Lease, defined under the Transfer of Property Act, 1882, it is a transfer of the right to enjoy the concerned property for a pre-defined time period or in perpetuity. The lessor (owner of the property) gives the lessee (the one leasing the property) such consideration periodically, usually at the beginning or end of a lease agreement.
License is defined in the Indian Easements Act. License does not allow any interest in the premises on the licensee's part. It merely gives the licensee the right to use and occupy the premises for a limited duration.
A lease deed needs to be stamped and registered. The amount payable towards the lease deed's stamp duty is more than that payable towards the Leave and License's