FOR PURCHASE UNDER THE DIRECTION OF THE COURT OF CHANCERY. the expenses of preparing and executing these presents, PRECEDENT XII. and all other costs and expenses incurred or to be incurred by the parties hereto of the first, second, third, and fourth parts respectively, or any of them in respect of the premises, shall be paid by the purchasers. 3. The vendors shall, within from the date of these presents, at their own expense, make out and deliver to the purchasers' solicitor, an abstract of the vendors' title to the said premises, and deduce a good title thereto, except that as to a small part of the marsh, numbered in the said schedule, and which was acquired by exchange in straightening the boundary, no other title shall be required than the possession of the vendors, inasmuch as the said exchange was never effectuated by any conveyance or assurance, but simply by the transfer of possession consequent upon the straightening of the boundary as aforesaid. 6. Agreement as to the delivery of the abstract and the title to be shown; 7-and as to the expense of attested copies and evidence not in possession. 4. The expense of the production and inspection of all deeds, evidences, and muniments of title (if any), not in the vendors' possession, and the expense of all journeys the vendors' incidental to such production or inspection, and of procuring and making all certificates, attested, office or other copies of or extracts from records, registers, deeds, wills, or other documents, and of obtaining and making all declarations, certificates, and other evidence, whether required for the verification of the abstract or for any other purpose, shall be borne by the purchasers, or the said trust fund standing in the name of the said AccountantGeneral. 8. If the title fail as to any undi vided part, the 5. In case a good title shall not be deduced to any undivided or other part of the said premises, except as herein before particularly mentioned, the present contract contract to be shall be void as to the entirety of the said premises. any wholly void. to be allowed for errors and mistakes. 6. Inasmuch as the description of the property in 9. Compensation the said schedule hereto is taken from a recent survey, it shall be considered and taken to be correct: and if error or mistake shall appear in the said schedule, the sale shall not thereby be annulled, nor shall any compensation be allowed or given in respect thereof unless the VOL. II. F FOR PURCHASE 10. Agreement as to conveyance; day of PRECEDENT XII. same shall relate to the amount of rents or incumbrances, in which case a compensation shall be allowed or given by the vendors or purchasers, as the case may require. 7. The vendors shall, on the said or as soon afterwards as a proper order shall have been made by the Court of Chancery for the completion of the purchase and payment of the purchase-money, execute and procure to be executed by all other necessary parties (if any) a proper conveyance and settlement of the said premises to and upon such uses and trusts, and in such manner as the Court of Chancery shall direct; and such conveyance and settlement shall be prepared by and at the expense of the said purchasers, or of the said trust. fund. 11.-as to day for completion of the purchase; 12.-rents and profits, from day fixed for completion till actual com to vendors. 8. The purchase-money shall be paid, and the purchase shall be completed on the day of and the purchasers shall on the completion of the purchase, be let into the receipt of the rents and profits of the said premises as from that day, and up to that day all outgoings payable by the landlord shall be discharged by the said vendors, and, if necessary, such rents and outgoings shall be apportioned between the vendors and purchasers. 9. If, from any cause whatever, the purchase shall not be completed on the said day of, the vendors shall not be entitled to interest on the purchase-money, pletion, to belong but shall be entitled to the rents and profits of the said premises (they paying the outgoings) until the purchase shall be completed, and for the present purpose such rents, profits, and outgoings shall be considered as accruing due from day to day, and shall, if necessary, be apportioned between the vendors and purchasers. IN WITNESS, &c. THE SCHEDULE above referred to. XIII. AGREEMENT for an EXCHANGE by WAY OF MUTUAL PRECEDENT XIII. between A. B., of, &c., of the one part, and C. D., of, &c., 1. Parties. of the other part. mutual sales and purchases; 1. The said A. B. shall sell, and the said C. D. shall 2. Agreement for purchase, the fee simple in possession of, ALL THAT, &c. [first parcels], with the appurtenances, free from incumbrances, in consideration (a) of the hereditaments hereinafter agreed to be sold by the said C. D.; and the said C. D. shall sell, and the said A. B. shall purchase, the fee simple in possession of, ALL THAT, &c. [second parcels], with the appurtenances, free from incumbrances, in consideration of the hereditaments hereinbefore agreed to be sold by the said A. B. from the date hereof, 2. Each party shall, within at his own expense, deliver to the other of them or his solicitor, an abstract of his title to the said premises agreed to be sold by him: and if either party shall fail to deduce a good title to the said premises agreed to be sold by him, then this agreement shall be void as to both the aforesaid sales; and each party shall pay his own expenses, whether incurred in investigating the title of the other of them, or otherwise in relation to this agreement. (a) The disadvantages incident to exchanges have been referred to, ante, Vol. i. p. 463. In order to avoid these disadvantages, although the agreement in the text is intitled an agreement for an exchange, it is, in effect, an agreement for mutual sales, to which it is not intended to impart any of the incidents of an exchange. It is probable, that, if the agreement be for an exchange, although the parties be not able to effect an exchange in strictness of law, yet, some of the incidents may, at least in equity, be considered to attach to the transaction. There is, in a subsequent part of this agreement, an express stipulation (though not absolutely necessary), that the agreement is not to be considered as an agreement for an exchange. PRECEDENT XIII. FOR AN EX- 3. If both parties shall deduce a good title to the said premises, then the said respective purchases shall be completed on the day of next, by proper 4. That convey conveyances and assurances, such conveyances and assurances to be respectively prepared by and at the expense of the party to whom they are to be made. ances shall be executed of the respective properties, -at the expense whom they are respectively made. 4. The respective purchasers shall on completion of of the persons to the said purchase, be let into the possession [or into the receipt of the rents and profits] of the premises agreed to be purchased by them respectively, on or as from the said day of, and up to that day all outgoings shall be discharged by the respective vendors. 5. Purchasers to have possession on a given day. 5. The agreement hereby entered into shall not be considered as an agreement for an exchange. Each party shall pay his own expenses of investigating the title of the other of them, and otherwise in relation to the said purchases, and also one half of the expenses of these articles of agreement. 6. If any mistake, capable of compensation, be made in the description of either of the aforesaid properties, such mistake shall not annul the sales aforesaid, but a compensation shall be allowed and accepted for the same, and such compensation and also any dispute which may arise respecting any of the matters aforesaid shall be settled by two referees, or their umpire, in manner following; (that is to say), each party shall, within fourteen days after notice to that effect shall have been given, appoint one referee, in writing; and the referees so appointed shall, before they commence their duty, appoint an umpire, in writing, and the decision of the referees if they agree, or of the umpire if they disagree, shall be final. If either party shall neglect or refuse to appoint a referee within the time specified, the referee appointed by the other party shall alone make a final decision. IN WITNESS, &c. XIV. AGREEMENT for an EXCHANGE, to be effected by the PRECEDENT XIV. INCLOSURE COMMISSIONERS (a). AN AGREEMENT, made, &c., between A. B. of, &c., spinster (the eldest of the four daughters, and coheirs (a) The Acts for the Inclosure, Exchange, and Improvement of Lands, 8 & 9 Vict. c. 118; 9 & 10 Vict. c. 70; 10 & 11 Vict. c. 111; 12 & 13 Vict. c. 83; 14 & 15 Vict. c. 53; 15 & 16 Vict. c. 79; 17 & 18 Vict. c. 97; 20 & 21 Vict. c. 31; 22 & 23 Vict. c. 43, provide a method of effecting exchanges of corporeal and incorporeal hereditaments, which, as it is very simple and inexpensive, and is applicable to estates of every tenure, whether belonging to the Crown, or to the Duchy of Cornwall, or to corporations sole or aggregate, or to charities or companies, or private individuals, and whether in settlement, mortgage, or otherwise, is very largely practised at the present day. Sections 16-21 of the Act 8 & 9 Vict. c. 118, define the persons who shall be considered as interested in the land to be exchanged, the definition embracing persons entitled to the possession or receipt of the rents and profits of the land without regard to the real amount of interest of such persons, guardians, trustees, committees, and husbands; and sect. 148 provides that it shall be lawful for the Inclosure Commissioners, upon the application in writing of the persons interested, according to the definition therein before contained, in lands not subject to be inclosed under that Act, or in lands subject to be inclosed under that Act, as to which no proceedings for an inclosure shall be pending, and who shall desire to effect an exchange of lands in which they respectively shall be so interested, to direct inquiries whether such proposed exchange would be beneficial to the owners of such respective lands; and in case the commissioners shall be of opinion that such exchange would be beneficial, and that the terms of the proposed exchange are just and reasonable, they shall, unless notice of dissent to the proposed exchange shall be given under the provision thereinafter contained, cause to be framed and confirmed under the hands and seal of the commissioners an order of exchange, with a map or plan thereunto annexed, in which order shall be specified and shown the lands given and taken in exchange by each person so interested respectively; and a copy of such order, under the seal of the commissioners, shall be delivered to each of the parties on whose application the exchange shall have been made; and such order of exchange FOR AN EXCHANGE BY THE INCLOSURE COMMISSIONERS. 1. Parties. The Acts for the |