Multiple Choice Questions on Which of the following are the essential requirements of a debt ........ for IBPS (PO/SO) Preparation

Which of the following are the essential requirements of a debt ........

Professional Legal Knowledge Civil Procedure Code (CPC)

Which of the following are the essential requirements of a debt?

An ascertainable or readily calculable amount

An absolute unqualified and present liability in regard to that amount with the obligation to pay forthwith or in future within time

That the obligation must have accrued and must be subsisting and should not be that which are accruing

All of these

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Explanation:

The correct option is 4 (All of these).

For a debt to be considered legally valid, certain essential requirements must be fulfilled. Firstly, there must be an ascertainable or readily calculable amount, meaning the exact value of the debt should be clear or easily determined. Secondly, the debt must involve an absolute, unqualified, and present liability, indicating a definite obligation to pay either immediately or at a future time. Lastly, the obligation must have accrued and be subsisting, meaning the debt must already exist and not be based on future uncertain events. All these elements are necessary for a debt to be valid, making Option 4 (All of these) the correct answer.