Form of agreement subject to contract with receipt for deposit

MEMORANDUM that this ______ day of ________ [insert the name, address etc. of purchaser] has agreed subject to contract to purchase and [vendor] of [address, etc.] [insert if desired by his agent ______ of ______ thereunto lawfully authorised] has agreed subject to contract to sell the property lying and situate at _______ at the price of Rs. _______ and upon the following special conditions:

1. A deposit of ______ per cent of the said price to be paid to [agent] as stakeholder subject to contract.

 

[Set out any other terms negotiated.]

[Signature]

 

RECEIVED as stakeholder subject to contract this _______ day of ______ from [purchaser] of [address, etc.] the sum of Rs. ________ being the deposit of _______ per cent of the purchase price referred above.

[Agent’s signature]