Assignment of a Decree

 

ASSIGNMENT OF A DECREE

 

 

THIS DEED OF ASSIGNMENT made at …………………on this …………day of …        20  ……between A son-of Shri ………………resident of ……………(hereinafter called the assignor) of the, ONE PART and B son of Shri..........resident of ……………(hereinafter called as the assignee) of the OTHER PART.

 

WHEREAS

 

(1) [P1] The assignor filed a suit against Shri Z son of Shri .......... resident of             being suit No  …………of  …………         in the court of ..........  ………for the recovery of a sum of Rs . …………………and obtained a decree for Rs …………and costs and as per the said decree and judgment, the assignor is entitled to recover from the said Z the sum of Rs …………with interest at the rate of 10 per cent from the date of decree on the said amount with costs of execution, etc

 

(2) [P2] The assignor has agreed to assign the said decree and his rights thereunder to the assignee for the consideration of Rs . .......... and the assignee has agreed to purchase the aforesaid decree with all the rights and interest of the assignor, subject to the conditions and stipulations mentioned below:

 

NOW THIS DEED OF ASSIGNMENT WITNESSETH THAT:

 

(1) [P3] In consideration of the aforesaid agreement and in consideration of the sum of Rs . …… paid by the assignee to the assignor on the date­ of this deed (the receipt whereof the assignor hereby acknowledges), the assignor hereby assigns to the assignee all the benefits and rights of the final decree, the full particulars of which are given in the Schedule hereto together with the decretal amount due under the said decree and future interest that may be due under the same, to hold the same with all rights, title and interest and recover and realise in any manner provided by law the decretal amount, interest and costs thereunder.

 

(2) [P4] The assignor hereby covenants with the assignee that he has not received any sum or other consideration from the said Z in respect of the aforesaid decree and the said decree is in full force and effect.

 

(3) [P5] In case the said decree be reversed or modified in appeal or other legal proceedings or the said decree being held inexecutable for any reasons whatsoever, this deed of assignment shall become null and void, subject to the payment of the above mentioned sum of Rs . .......... paid as consideration with interest thereon at the rate of …………per cent per annum, less any sum realised by the assignee from the said Z under this deed.

 

IN WITNESS WHEREOF the parties have affixed the signatures hereunto, the day and year first above mentioned.

Schedule herein referred to

 

Particulars of the decree

 

(a) Name of the court passing the decree.

(b) No. and year of the suit.

(c) Name of the decree holder.

(d) Name of the judgment debtor.

(e) Date of decree.

(f) Amount of the decree.

(g) Execution costs.

 

WITNESSES 

                        1          Signed and delivered by A, the within named assignor

           

            2.         Signed and delivered by B, the within named assignee