Sale of an Insolvent’s Property by the Official Receiver

 

Date

___________________________________________________________ (hereinafter called the vendor)

And

___________________________________________________________ (hereinafter called the Purchaser)

WHEREAS:

(1) At the date of the order next hereinafter recited [Insolvent] of [address, etc.] [or the said [Insolvent] was absolutely entitled to the goodwill and assets of the business hereinafter described free from encumbrances.

 (2) By an order of the High Court of_________[or made on the_______day of________ the said Insolvent was adjudicated Insolvent and on the________ day of______ the Vendor was appointed Official Receiver of his property.

(3) The vendor has agreed with the purchaser for the sale to thepurchaser of the goodwill and assets of the said business at the price of Rs______

Now this deed witnessed as follows:

1. In consideration of Rs_________paid by the purchaser to the Vendor (the receipt whereof the vendor hereby acknowledges) the vendor hereby assigns unto the purchaser all that the business of_________ carried on by the said [Insolvent] at________ and the goodwill [and all book debts now owing to the Official Receiver in respect thereof [particulars of which are set out in the schedule hereto]] TO HOLD the same unto the purchaser absolutely.

2. The said [Insolvent] hereby covenants with the purchaser that the said [Insolvent] will not solicit any persons who were customers of the said business during the_________years immediately preceding the date hereof to deal otherwise than with the purchaser and his assigns so far as concerns goods supplied in the course of the said business.

SCHEDULE

[Particulars of books debts]

IN WITNESSES etc.

 

[Signatures of parties]