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Deed of Assignment of Business Debts

Document Cited in Related
Vincent
Updated atMarch 2010

This deed of assignment made the …………… day of ………, between Arbita Bhattacharya of, etc. (hereinafter called the assignor), of the one part, and Chirag Desai of, etc. (hereinafter called the assignee), of the other part.

Whereas the assignor has for some time past carried on the trade or business, of, etc., at, etc., in the course whereof the several persons, whose names, addresses and occupations are mentioned in the schedule hereunder written, have become lawfully indebted to him in respect of the several sums of money written opposite to their respective names, and whereas the assignor has contracted with the assignee for the absolute sale to him of the said business debts at and for the sum of Rs. ……… now this deed witnesses that in consideration of the sum of Rupees ……… now paid to the assignor by the assignee (the receipt of which sum the assignor hereby acknowledges), the said Arbita Bhattacharya, as beneficial owner, do hereby grant, transfer, sell and assign unto and to the use of the said Chirag Desai all the several said debts, and/or sums of money specified in the said schedule which are now lawfully due and owing to the assignor together with all interest due thereon and all benefits of the security or securities held on account therefor, if any, to have and to receive and appropriate them for his absolute use and benefit with absolute power, authority and liberty to enforce payment thereof by suit or otherwise and that the assignor do hereby covenant with the assignee that all several debts are lawfully due and payable to him and further that the...

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