Section 30 of IPC : Section 30: "Valuable security"

Explanation using Example

Example 1:

Ravi sells his car to Suresh and provides him with a signed sale deed. This sale deed is a document that transfers the ownership of the car from Ravi to Suresh. In this case, the sale deed is a "valuable security" because it creates a legal right for Suresh to own the car.

Example 2:

Priya takes a loan from a bank and signs a promissory note agreeing to repay the loan amount with interest. This promissory note is a document that acknowledges Priya's legal liability to repay the loan. Therefore, the promissory note is considered a "valuable security" as it acknowledges Priya's legal obligation to the bank.

Example 3:

Anil and Sunita enter into a rental agreement where Anil agrees to rent his apartment to Sunita for a year. The rental agreement is a document that creates a legal right for Sunita to occupy the apartment and a legal obligation for Anil to provide the apartment for the agreed period. This rental agreement is a "valuable security" because it creates and acknowledges legal rights and liabilities.

Example 4:

Meera receives a share certificate from a company after purchasing shares. This share certificate is a document that acknowledges Meera's ownership of the shares and her right to receive dividends. The share certificate is a "valuable security" as it creates and acknowledges Meera's legal rights as a shareholder.

Example 5:

Rajesh signs a power of attorney document giving his brother, Vinod, the authority to manage his property while he is abroad. This power of attorney is a document that transfers certain legal rights from Rajesh to Vinod, allowing Vinod to act on Rajesh's behalf. The power of attorney is a "valuable security" because it transfers legal rights and acknowledges legal authority.