Authored By : Mitter, Agnew

Mitter and Agnew, JJ.

1. It has been contended before us that the mortgage uponwhich the plaintiff relies is not valid under the Transfer of Property Act. Weare of opinion that the Transfer of Property Act does not deal with a mortgageof this kind. Future indigo crops that may be grown upon a certain plot of landbelonging to the mortgagor were mortgaged. A mortgage of this kind does notcome within the purview of the Transfer of Property Act. Neither can it becalled a pledge of specific moveable property. It is a mortgage of moveableproperty that may come into existence in future. Such a transaction as this isneither governed by the Transfer of Property Act nor by the Contract Act. Thetransaction in question is in the nature of an agreement to mortgage"moveable property that may come into existence in future. We see noreason to hold that it is not valid. It has been recognized in Courts ofjustice in this country; see Lala Tilockdhari Lal v. Furlong 2 B.L.R. A.C. 230.

We dismiss the appeal with costs.

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Mazhar Hossain and Ors.vs. Misri Lal and Ors.(30.04.1886 - CALHC)