The correct answer is (c).
Section 5 of the Transfer of Property Act, 1882 defines a “living person” as “a human being or a company or association or body of individuals capable of holding property.” This means that a company or association or body of individuals can be a “living person” for the purposes of the Transfer of Property Act.
Option (a) is incorrect because it does not include companies or associations. Option (b) is incorrect because it does not include bodies of individuals. Option (d) is incorrect because it is not one of the options provided.
Here are some examples of companies or associations that can be “living persons” for the purposes of the Transfer of Property Act:
- A limited company
- A partnership
- A trust
- A co-operative society
- A trade union
- A religious body