All India Bar Examination (AIBE) 2-II Previous Year Question Papers with Answers

The correct option is A: A covenant.

Explanation:

In the context of the transfer of an immovable property, a contractual obligation of the parties is commonly referred to as a "covenant." A covenant is a legally binding promise or agreement made between the parties involved in a property transaction. These covenants can include various terms and conditions related to the property transfer, such as restrictions on land use, maintenance responsibilities, and other obligations that both the buyer and seller must adhere to.

Here's a brief explanation of the other options:

B: A condition - Conditions are specific requirements or stipulations that must be met for a contract to be valid or for a particular action to occur. While conditions can be a part of a property transaction, they are not typically what the parties are referred to in relation to the transfer of immovable property.

C: A consideration - Consideration refers to something of value exchanged between parties in a contract. It is a fundamental element of a contract, but it does not specifically relate to the transfer of immovable property itself.

D: A termination - Termination refers to the act of ending or canceling a contract. It is not the common terminology used to describe the contractual obligations of parties in a property transfer.

E: A cancellation - Cancellation refers to the act of voiding or revoking a contract. While cancellation can be a consequence of a breach of covenant or other contractual obligations, it is not the commonly used term for describing the obligations themselves in a property transfer.

In summary, when discussing the contractual obligations of parties in relation to the transfer of an immovable property, the term "covenant" is the most appropriate and commonly used term.