Explanation:

- Section 320(1) of the Cr. P.C.: This section deals with the compounding of offenses, which means certain offenses can be settled without going through a trial.

- Option 1: Section 404 IPC: Involves dishonest misappropriation of property possessed by a deceased person.

- Option 2: Section 402 IPC: Relates to the assembling of a gang for the purpose of committing dacoity.

- Option 3: Section 401 IPC: Deals with punishment for being a member of a gang of thieves.

- Option 4: Section 403 IPC: Deals explicitly with dishonest misappropriation of property.

Correct Answer: Option 4: Section 403 IPC