Saving of rights of certain transferees.
64. Nothing in section 63 entitles the beneficiary to any right in respect of property in the hands of-
| (a) | - | a transferee in good faith for consideration without having notice of the trust, either when the purchase-money was paid, or when the conveyance was executed, or |
| (b) | - | a transferee for consideration from such a transferee. |
A judgment-creditor of the trustee attaching and purchasing trust-property is not a transferee for consideration within the meaning of this section.
Nothing in section 63 applies to money, currency notes and negotiable instruments in the hands of a
bona fide holder to whom they have passed in circulation, or shall be deemed to affect the Indian Contract Act, 1872 (9 of 1872), section 108, or the liability of a person to whom a debt or charge is transferred.
CAclubindia
