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Section 47

RELEASE, that is to say, any instrument (not being c;uch a release as is provided for bv Section 24), whereby a person renounces a cla1m upon another person or against any specified property-

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47 RELEASE, that is to say, any instrument (not being c;uch a release as is provided for bv Section 24), whereby a person renounces a cla1m upon another person or against any specified property- (a) If the amount or\ alue of the claim does not exceed Rs. 1,000 (b) in any other case.