way of mutual sale and conveyance (b), of the sd respive hereds described in the first and second schedules hto, and for the paymt of a sum of money for equality of value as hinafter mentd: NOW IT IS HBY AGRD as follows: Agreement 1. THE SD A. shall, in conson of the hereds hby agrd to for convey be conveyed by the sd B. to the sd A. [and of the sum of money to be paid by the said B. to the sd A. as hinafter mentd], sell and convey to the sd B. the hereds described in the first schedule hto, with the appurts thof, and the inheritance thof in fee simple in possion free from incumbrances [except as hinafter mentd].

ance by A.

Agreement for convey.

2. Similar agreement for sale and conveyance by B. to A. ance by B. of the hereditaments described in second schedule; or if copyhold, THE SD B. shall, in conson, &c., sell and convey to the sd A. the hereds described in the second schedule hto, with the appurts and the inheritance thof in possion according to the custom of the sd manor, subjt to the manorial rights, but free from incumbrances [except as hinafter mentd]; or, if leasehold, THE SD B. shall, in conson, &c., sell and assign to the sd A. the hereds described in the second schedule hto for the residue now to come of the sd term of years, subjt to the sd yearly rent of £, and the covenants and condons in the sd indre of lease contd, but free from incumbrances [except as hinafter mentd].

Payment of money for equality.

3. [Provision as to incumbrances, if any, subject to which the respective premises are conveyed, see CONDITIONS OF SALE].

4. THE SD premes belonging to the sd A. being considered to be of greater value than the sd premes belonging to the sd B. [by the sum of £], the sd B. shall, upon the execution of the conveyance or assurance to him of the sd premes of the sd A., pay to the sd A. the sum of £ for equality of value, or, “a sum of money for equality of value to be fixed,

(b) The contract should be expressed to be by way of mutual sale to prevent any doubt whether the statutory provisions as to contracts for sale are applicable; see as to these provisions, p. 223, note.

at the joint expense of the pties, by C., of, &c., and D., of, &c., or in case of difference by an umpire, to be appointed by such referees in writing before entering on the reference; and the decision of the sd referees or their umpire shall be final," or, "the difference in value of the sd premes shall be made good by a paymt in money, to be made by the sd A. to the sd B., or by the sd B. to the sd A. (as the case may be), and the amount and time of paymt thof, and the mode in which the sd sum shall be paid, namely, whether by a sum in gross or by instalments or by way of rent-charge, and the mode in which the paymt, if postponed, shall be secured, shall be fixed, &c., as before, and the sd money shall be paid or secured accordingly."

5. EACH of them, the sd A. and B. shall deliver to the Abstract. other of them or his solor, within one calendar month from the date hereof, an abstract of his title to the sd respive premes, Add provisions as to title, &c., as on a sale, see CONDONS OF SALE and CONTRACTS FOR SALE.

of

6. THE SD exchange shall be completed on the day Comple

tion and convey

the sd pties (togr with all other necessary pties, if any), ance.
shall execute or make a proper assurance of the sd premes
belonging to him unto the other of them free from incum-
brances [save as afsd]; to be prepared by and at the expense
of the pty to whom the same is made. Add any provisions
as to covenants to be entered into by either party as on a
sale.

7. EACH OF the sd pties shall be entled to the possion or Possession rect of the rents and profits of, and shall discharge the out- and outgoings. goings in respect of, the premes hby agrd to be conveyed or assured to him from the day of.

non-com

8. IF FROM any cause whatever the sd respive conveyances Interest on and assurances shall not be completed on or before the sd pletion. day of next, interest at the rate of £5 per cent. per annum upon the sum to be paid for equality of value as afsd shall be paid by the sd B., or, "the party by whom such sum shall be payable," from the sd- day of

rances.

next, until the completion of the sd conveyances and assuAdd provision for compensation for misdescription and any other provisions as to expenses, retention of deeds, or otherwise, which may be required, as on a sale. See "CONDONS OF SALE," and "CONTRACTS FOR SALE."

[9. THE PROVONS of the Vendor and Pchaser Act, 1874, and the Conveyancing and Law of Pperty Act, 1881, relating to contracts for sale of land, shall apply to this contract so far as the same may be applicable and subjt to the provons herein contd.]

IN WITNESS, &c.

Two schedules of parcels.

Parties.

Recitals.

Agreement

to ex

change.

II.

AGREEMENT for an EXCHANGE to be carried out by the COPYHOLD TITHE and INCLOSURE COMMIS

SIONERS (a).

MEMORANDUM of Agreemt made the

day of

BETWEEN A., of, &c., of the one pt, and B., of, &c., and C., of, &c., of the other pt. Recitals showing the title of the parties; AND WHAS the sd A. has agrd with the sd B. and C. to make such exchange as is hinafter mentd: NOW IT IS HBY AGRD as follows:

1. THE SD A. shall give to, and cause to be vested in the sd B. and C., their hrs and assigns, the hereds described in the first schedule hto, with the appurts, in exchange for the

(a) See 8 & 9 Vic. c. 118, s. 147, &c. ; 9 & 10 Vic. c. 70; 10 & 11 Vic. c. 111, ss. 4 & 6; 12 & 13 Vic. c. 83, ss. 7 & 11; 15 & 16 Vic. c. 79, s. 17, &c.; 17 & 18 Vic. c. 97; 20 & 21 Vic. c. 31, s. 4, &c. ; 31 & 32 Vic. c. 89; 39 & 40 Vic. c. 56, s. 33, and see note to last precedent, p. 589.

hereds described in the second schedule hto, with their appurts, which shall be given by the sd B. and C. to or caused by them to be vested in the sd A., his hrs and assigns.

calendar Comple

2. THE EXCHANGE shall be effected within months from the date hereof, and shall be carried out and perfected by the Copyhold Tithe and Inclosure Commissioners under the provons of the acts of parliamt relating to the exchange of lands.

tion.

3. ALL THE Costs and expenses of and incidental to these Costs. presents, and the carrying out and perfecting of the sd exchange, shall be borne and paid as to one moiety by the sd A., and as to the other moiety by the sd B. and C.

4. IN CASE, by reason of the default of either of the sd Rescission. pties hto, or for any other reason, the sd exchange shall not be perfected within calendar months from the date hereof, it shall be lawful for the party not in default, at any time after the expiration of such period, to determine this agreemt by notice in writing to the other of the sd pties [in which case the pty in default shall reimburse the other pty on demand all costs and expenses incurred by him or them in relation to the sd intd exchange.]

IN WITNESS, &c.

III.

EXCHANGE of FREEHOLDS simple by ONE DEED (a).

are no recitals.

between tenants in fee
VARIATIONS where there

PARTIES, A., owner of one property to be exchanged, 1; B.,

owner of other property, 2. Recitals of A.'s seisin in fee simple Recitals.

(a) It is more usual to have two deeds. See the next Precedent.

Agreement.

Witnesseth.

Grant.

Habendum. To use of grantee.

of," the hereds first liby granted, which are described in the first schedule hto"; And of B.'s seisin in fee simple, " of the hereds secondly hby granted, which are described in the second schedule hto;" AND WHAS the sd A. has agrd with the sd B. for the exchange of the sd hereds described in the first schedule hto for the sd hereds described in the second schedule hto; [Recital as to muniments, p. 341;] Or, omit the recitals; [NOW THIS INDRE] WITNETH that [in psuance of the sd recited agreemt and] in conson of the conveyance in exchange hinafter made by the sd B., the sd A., as beneficial owner (see p. 406, note), doth hby grant unto the sd B., his hrs and assigns, parcels in first schedule, p. 346, omitting general words and estate clause, see pp. 357, 359: TO HOLD the sd premes hby granted UNTO AND TO THE USE of the sd B., his hrs and assigns, if no recitals add, "in exchange for the hereds hinafter granted in exchange by the sd B.;" Similar grant by B. to A. of premises in second schedule: [Acknowledgment and undertaking by A. as to muniments retained by him. The same by B. as to muniments retained by him, p. 391.]

IN WITNESS, &c.

Two Schedules of Parcels.

Recitals.

Agreement.

IV.

CONVEYANCE of FREEHOLDS by way of EXCHANGE
for freeholds conveyed by a DEED of even date.
VARIATION where MONEY is received by grantor for
EQUALITY of exchange.

PARTIES, A., owner of property now conveyed, 1; B., owner of property conveyed by deed of even date, 2. Recite A.'s seisin in fee of, "the hereds hby granted, which are described in the first pt of the schedule hto:" AND WHAS the