Law: Stamp Act, of 1899

Section: 2(10)

Stamp Act (II of 1899), S. 2 (10) Document described as agreement to sell Sellers termed as vendors Terms generally conforming to those of agreement to sell but one clause recording that ' in consideration of these present the vendors convey and deliver possession of property to company' Agreement whether one for sales or " conveyance " Interpretation of documents. A deed of agreement was executed on behalf of a proposed company a company yet to come into existence by its pro¬moters and a group of landlords. The latter were described in the deed as the vendors and not as the first party. Most of the articles of the deed were in the nature of agree¬ment for sale. Throughout, the document contained stipulation for sale to be carried out thereafter and concluded by undertaking to execute a proper document of sale in favour of the company and that upon adoption of that agreement by the company after it came into being in such manner as to render the same binding on the company the promoters shall be discharged from all liabilities thereof and that if that agreement was not adopted by the' company within one year from the date of that instrument, the vendors might by notice in writing determine the same. However, clause (7) in the agreement was to this effect: " that in consideration of these presents the vendors convey and deliver possession of the property described in the schedule with all accretions and appendages whatsoever to the company and, subject to the lien as mentioned above, the company shall be entitled to use the land in any manner the company may deem proper and shall exercise all rights, title and interest of an owner and proprietor of the property described in the schedule. The vendors convey all khas lands belonging to them in the mouzas described in the schedule and, if any error or omission is discovered, the vendors undertake to correct the same in the schedule of the deed of sale." On the question whether upon a proper construction of the document as a whole the purported deed of agreement to sell was a deed of out and out conveyance within meaning of the definition of conveyance under clause (10) of section 2 of the Stamp Act, 1899 or merely…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492