and condons contd in the sd indre of, &c., so far as the same ought to be performed and observed in respect of the lands and premes comprd in such indre, other than the premes hby agrd to be sold, and also a power to the pchaser, his hrs and assigns, to retain out of the sd rent-charge of £40 any moneys which he or they may be compelled to pay in respect of the sd rent-charge of £20, including any costs, charges, or expenses incurred by him or them in consequence of the non-paymt of such last-mentd rentcharge by the vendor, his hrs or assigns. Provision for execution of conveyance in duplicate, p. 282, and other clauses as in ordinary contracts for sale, see Precedent I.

IN WITNESS, &c.

Parties.

V.

PROVISIONAL CONTRACT for SALE of FREE-
HOLDS in SETTLEMENT, subject to the APPROVAL of
the COURT being obtained under the SETTLED
ESTATES ACT (a).

PARTIES, A., widow, tenant for life of the estes hinafter mentd, under the will of her late husband X., deceased, and B. and C., trees of the sd will (hinafter called the vendors), 1. D. (hinafter called the pchaser), 2.

Agreement 1. SUBJT to the approval of the High Court of Justice for sale. being obtained as hinafter mentd, the vendors agree to sell, and the pchaser agrees to pchase, for the sum of £, the

(a) See the Settled Estates Act, 1877, 40 & 41 Vic., c. 18; as to infants' estates, see the Conv. Act, 1881, s. 41.

inheritance in fee simple free from incumbrances of, parcels, with the appurtenances thof.

to accept

2. THE title of the vendors to the sd premes having been Purchaser already inquired into, and approved of by the pchaser title. (subjt to the 9th clause hereof), shall be accepted by him without further investigation.

day of

Payment of

money and

3. THE pchaser shall on or before the next pay the pchase-money to the sd trees, or into the Bank purchase of England, as may be directed by the order of the sd Court interest. in that behalf made upon the application hinafter mentd; and if the same is not so paid, the pchaser shall pay interest (less income-tax) thon, at the rate of £5 per cent. per annum from the sd next to the day on

day of

which the same is actually paid.

4. Possession and conveyance, &c., see pp. 228, 232.

5. Provision for retention of muniments relating to other property. See CONDITIONS OF SALE, p. 277.

6. Incumbrances, dc., see p. 229.

identity,

&c.

7. THE рchaser having investigated the title, and having Provision satisfied himself as to the identity of the ppty agrd to be as to sold with the ppty described in the munimts, and having misdealso satisfied himself of the correctness of the description scription, contd in this agreemt, shall not require any further evidence of such identity, or make any objection or claim to compensation in respect of any want of identity, or any error or omission in the description herein contd which may hereafter be discovered.

[8. THE Costs of the vendors and all other pties, as between All exsolor and client, of or incidental to the sd sale, and the con- penses to be paid by veyance, and this present contract, and the application to purchaser. the Court hinafter mentd, including the expenses of the negotiations preliminary hto, and of taking counsel's opinion as to the power of the vendors to sell, and of the preparation of the abstract, and making out the title, and of all surveys and valuations, and all other charges and expenses incurred in carrying out the sale, or in relation thto, and including also the expenses of the interim investmt of the pchase

money in the funds or otherwise pending the re-investmt
thof in the pchase of land or otherwise, as directed by the
Settled Estates Act, shall be borne by the pchaser, and such
costs and expenses (other than those of the pchaser) shall
be paid by him to the vendors or their solor upon the
pchase being completed, and such investmt of the pchase-
money as afsd being made, or in the event of the sanction
of the sd Court not being obtained on or before the
day of
next, as hinafter mentd, then on such last-

mentd day.] Vendors to 9. THE power of the vendors to sell being doubtful, an make ap- application shall forthwith be made by them to the sd Court for sanction for the sanction of the Court to the sd sale under the afsd of Court(b). Act; and in case such sanction shall not be obtained to this contract, either in its present terms, or with such variations as may be assented to by both pties, on or before the day of next, then this contract shall be void

Power to

annul on

[save and except the last preceding clause].

10. IF the pchaser shall refuse or neglect to comply with vendors to any of the stipulations of this contract, the vendors shall be default of at liberty to annul the same, and shall thereupon be entled purchaser. to recover from the pchaser all expenses hinbefore made payable by him, or occasioned by his default.

Purchase

by trustees for sale.

IN WITNESS, &c.

(b) The following is a similar clause, where the purchase is made by trustees under the sanction of the Court :

"The pchasers shall forth with apply for and endeavour to obtain the sanction of the Chancery Division of the High Court of Justice to this agreemt in an action of

2.

being an action for the administration of the este of and if such sanction shall not be obtained day of

the late

before the
void."

next, this agreemt shall become

VI.

AGREEMENT for SALE of MINING PROPERTY to a
TRUSTEE for an intended LIMITED COMPANY. PART
of the PURCHASE-MONEY to be paid in SHARES.

Parties.

PARTIES, A. (hinafter called the vendor), 1; B., 2. WHAS it is in contemplation to establish a Co (hinafter Recital. called the Co), with liability limited by shares, under the Companies Acts, 1862 and 1867, for the ppose of pchasing from the vendor the hereds and ppty hinafter mentd and working the mines thereunder.

NOW IT IS HBY AGRD as follows:

to sell.

1. THE vendor shall sell, and the sd B., as agent and Agreement tree for the Co, shall pchase for the sum of £ parcels, and the inheritance thof in fee simple, free from incumbrances [togr with all trucks, waggons, rails, turntables, weighing-machines, steam and other engines, machinery, tools, implemts, and other articles and things belonging to the vendor, and used or employed in or about the working of the sd mines, a list whof is given in the schedule hto]. 2. THE pchase-money, with interest, from the

of

next, at the rate of £

day Purchase.

per cent. per annum upon the unpaid pt thof for the time being, shall be paid by the Co to the vendor as follows, namely, the sum of £, pt thof, with interest on such last-mentd sum as afsd, so soon as deposits to the amount of such sum and interest shall have been received upon the allotmt of shares in the Co, or so soon as deposits to the amount of £- in the whole, upon applications for and allotmts of shares, shall have been received, whichever shall first happen; the sum of £further pt thof, with interest on such last-mentd sum as afsd, at the expiration of calendar months from the

money.

Convey

ance.

Possession.

date of the issue of the first letters of allotmt of shares in
the Co, the afsd paymts to be made at the office of the
vendor's solors, Messrs. - at
and the sum of £-
the residue of the sd pchase-money, with interest as afsd,
shall be paid or satisfied by an allotmt to the vendor or his
nominees of fully paid-up shares in the Co (a) amount-
ing at par to such sum and interest, such allotmt to be made
at the time of the first allotmt of shares in the Co, and a
contract between the Co and the vendor, declaring such
shares to be fully paid up, to be prepared by and at the ex-
pense of the vendor, shall be executed and registered upon
or before the issue of such shares; and the vendor hby
agrees to accept such shares accordingly.

3. UPON the last instalmt of the pchase-money and interest being duly paid, the vendor and other necessary pties (if any) will execute and do all such assurances and acts for assuring the ppty to the Co as shall be reasonably required, such assurances to be prepared by and at the expense of the Co, and to be left at the office afsd for execution ten days at least before the paymt of the sd last instalmt.

4. THE mines shall be worked on account of, and the rents and profits received, and the outgoings borne and paid by the vendor up to the day of next. The Co or their agents shall be let into possion on the sd day of- and shall from that date work the mines and bear and pay all outgoings, and be entled to all the rents and profits of the ppty, and such outgoings, rents, and profits shall, if necessary, be apportioned between the vendor and the Co for the ppose of this provon.

Add any other clauses which may be appropriate, as in ordinary contracts.

(a) This contract, or (to save expense), a short separate contract repeating the provisions relating to the paid-up shares, must be filed with the Registrar of Joint Stock Companies at or before the issue of the shares; see 30 & 31 Vic., c. 131, s. 25, and the next Precedent.