Compensation for compulsorily acquired land may be pursued through the statutory appeal process

The question

A row of six shophouses is to be acquired for a new rail line. The Collector has held his inquiry, made his award, paid the compensation and taken possession of the site, and hoardings have gone up. One of the owners, who traded there for thirty-one years, considers the sum awarded far too low against what he has seen paid elsewhere in the district. He has, however, already banked the money and moved his business to rented premises in the next street. A neighbour who went through the same process a decade ago tells him that by taking the cheque and handing over the keys he gave up any right to argue about the figure, and that pursuing it now would only cost him more.

Which statement is correct?

1. A. He gave up the right to argue when he accepted the compensation money.
2. B. He may still pursue the amount; payment and possession do not end that right.
3. C. He gave up the right to argue when he handed over possession of the site.
4. D. He may pursue the amount only if he had refused possession at the time.