Where the transferor is a pardanashin lady the transferee should be cautious and the fact that the contents of the document have been explained to her and she is executing the document after clearly understanding the nature of the transaction, should be referred to in the recitals.
According to Article 299, of the Constitution, contracts where the Government of India or a State government is a party should be executed in the name of the President of India or the Governor of the State.
E.g.- “ ………A, S/o B, resident of…. (hereinafter referred to as “the Mortgagor”) ( which term, unless it be repugnant to the context or meaning thereof means and includes his heirs, legal representatives, executors, assigns of the one Part)……..”
E.g.- “ NOW THIS DEED WITNESSETH THAT IN PURSUANCE OF THE SAID AGREEMENT AND IN CONSIDERATION OF A SUM OF Rs. 1,00,000/- ( Rupees One Lakh only) paid by the transferee to the transferor before the execution hereof ( the receipt of which the transferor does hereby acknowledge) ”
THIS AGREEMENT of compromise made at Bombay on this 5th day of December 2006 between X son of A residing at ……… (hereinafter called Party No. 1) of the ONE PART and Y son of B residing at …… (hereinafter called Party No. 2) of the OTHER PART.
WHEREAS disputes and differences have arisen between the parties aforementioned regarding…………..
AND WHEREAS the Parties have agreed to settle their disputes and differences amicably between themselves without recourse to litigation and for that purpose are willing to abandon their claims in the manner hereinafter appearing.
NOW THIS DEED WITNESSETH THAT IT IS HEREBY AGREED AS FOLLOWS: