ASSIGNMENT OF BENEFIT OF HIRE-PURCHASE AGREEMENT

ASSIGNMENT OF BENEFIT OF HIRE-PURCHASE AGREEMENT

THIS DEED of assignment made at…………..on this……………………….day of…………..20…… between A son of………….. resident of………….. (hereinafter called the Assignor) of the ONE PART and B son of. ………….. resident of…………..(hereinafter called the Assignee) of the OTHER PART.

WHEREAS

(1) The owner by the hire-purchase agreement dated…………. has let the goods to the hirer, whose name together with other particulars of the said agreement are set out in the First Schedule hereto on the terms and conditions set out in the said agreemet, being in the form set out in the Second Schedule hereto.

(2) The owner has agreed to transfer all his rights under the said hire-purchase agreement, to the assignee for a sum of Rs. ……………………

NOW THIS DEED WITNESSETH AS FOLLOWS:

(1) In consideration of the sum of Rs…………..paid by the Assignee to the Assignor (the receipt whereof the Assignor hereby acknowledges), the Assignor as beneficial owner hereby assigns to the assignee ALL THOSE the agreement, particulars of which are set out in the First Schedule hereto and the rights, interest and advantages thereof together with all moneys now payable or hereafter to become payable thereunder and all rights and remedies for enforcing the said agreement have and except the right or power conferred upon the Assignor to enter upon any premises of the hirer and retake or seize any of the goods comprised therein.

IN WITNESS the parties have hereunto set and subscribed their respective hands on the date and year above mentioned.

The First Schedule above referred to

(Particular of hire-purchase agreement, goods hired to the hirer, etc.)

The Second Schedule above referred to

(Specimen form of agreement)

WITNESSES

1 Signed and delivered by the within named Assignor

2. Signed and delivered by the within named Assignee