Cancellation of Sale and Reconveyance
THIS DEED OF SALE is made on the . . . . . . . . . day of . . . . . ,
20 . . . . . . . BETWEEN A. B. etc. (hereinafter called ‘‘the Vendor’’) of the one part AND C. D. etc. (hereinafter called ‘‘the Purchaser’’) of the other part.
WHEREAS by a deed of a sale dated the . . . . . . . . . registered in the office of the . . . . . . . . . on the . . . . . . . . . the Vendor transferred the property described in the Schedule hereto to the Purchaser for a consideration of Rs. . . . . . . . . . retained by the Purchaser to be applied in the manner therein specified;
AND WHEREAS one E. F. represented to the Vendor that under the law of pre-emption he had a preferential right of purchase as against the Purchaser and offered to purchase the said property for the said price;
AND WHEREAS the Vendor has been advised that the claim of the said E. F. is valid and to avoid future litigation it would be better to cancel the sale made in favour of the Purchaser under the aforesaid deed of sale and to transfer the property in favour of the said E. F.;
AND WHEREAS the Purchaser has agreed with the Vendor to have the aforesaid deed of sale cancelled and to reconvey the said property to the Vendor in consideration of the Vendor releasing the Purchaser from the obligations arising under the covenants by the Purchaser contained in the aforesaid deed of sale.
NOW THIS DEED WITNESSES that in pursuance of the said agreement and for the consideration aforesaid the parties hereto agree that the aforesaid deed of sale be and is hereby cancelled AND the Purchaser hereby reconveys and transfers to the Vendor ALL the property described in the Schedule hereto TO HOLD the same to the Vendor for ever;
AND the Vendor hereby release the Purchaser from the obligation under the covenants by the Purchaser contained in the aforesaid deed of sale:
PROVIDED ALWAYS and it is hereby agreed that wherever such an interpretation would be requisite to give the fullest possible scope and effect to any contract or covenant herein contained the expressions ‘‘the Vendor’’ and ‘‘the Purchaser’’ hereinbefore used include their respective heirs, legal representatives, successors and assigns.
IN WITNESS WHEREOF the parties hereto have signed this deed on the dates mentioned against their respective signatures.