This section is from the book "The Law Of Contracts", by William Herbert Page. Also available from Amazon: Commercial Contracts: A Practical Guide to Deals, Contracts, Agreements and Promises.
This contract entered into at ---------, ---------, this --------- day of ---------,
19-, by and between A. B., of ---------, party of the first part, and C. D., party of the second part, Witnesses:
1. To sell to said party of the second part the good will established by said party of the first part in the practice of his profession as a physician in the
--------- of ---------, County of ---------, State of ---------, together with his office fixtures and furniture, surgical and medical instruments now on hand, for the sum of --------- dollars ($---------), payable as hereinafter provided;
2. To introduce said party of the second part to the patients and acquaintances of said party of the first part, as his successor, and to faithfully use his best endeavors to maintain and increase said practice for the benefit of said party of the second part; and to that end, to assist said party of the second part in receiving and treating patients during his office hours and to make all professional calls in company with said party of the second part for --------- days from the date hereof; the entire fees and compensation for the same, however, to be the property of said party of the second part;
3. That he will not reside nor practice as a physician or surgeon in said
--------- of ---------, State of ---------, nor within --------- miles thereof for --------years from the date hereof, and that he will not in any manner compete or interfere with the practice of said party of the second part.
In consideration whereof said party of the second part hereby promises and agrees to pay to said party of the first part said sum of --------- dollars
($---------) as follows: the sum of $--------- in cash upon the execution of these presents and the balance of $--------- in instalments as follows: the sum of $---------on---------, 19-; the sum of $---------on ---------, 19-; the sum of $--------on---------, 19-; the same to be evidenced by promissory notes for said amounts and secured by a chattel mortgage covering said medical instruments, books, furniture, drugs, medicines, etc.
It is mutually agreed by and between the parties hereto on the consideration aforesaid, that if any of said instalments of purchase price be not paid when due or within --------- days thereafter, then this agreement may be rescinded by said party of the first part, at his option on --------- days' notice being given by him to said party of the second part, and said party of the first part shall have full right to foreclose said chattel mortgage and to resume his practice the same as if this agreement had not been made.
In witness whereof the parties have set their hands to duplicates hereof the day and year first above written.
In presence of: A. B. ---------, C. D.
See references under Sec. 3920.
8 3822. Contract for sale of real estate.
This contract entered into this --------- day of ---------, nineteen hundred and
---------, between A. B. and C. B. [husband and wife], parties of the first part, and C. D., party of the second part, Witnesses:
First. - That said C. D., for ------- and --------- heirs, executors and administrators, promises, covenants and agrees to pay the said A. B., heirs and assigns, the sum of --------- dollars, with interest from the date hereof, on all of said money not paid this day, at the rate of -------- per cent. per annum, to be paid at the maturity of each deferred payment, on all of said money then unpaid; said sum first mentioned to be paid as follows: ---------.
Second. - That in consideration of the above, and upon the fulfillment of all and singular the covenants contained in this agreement to be performed and kept by the said €. D., in the manner and at the time specified herein, the said A. B. agrees to sell and convey, by.sufficient warranty deed, unto the said C. D., --------heirs and assigns, the following described real estate, situate in the --------- of --------, in the --------- of --------- and State of --------, to-wit:
Third. - That the said A. B. shall pay all taxes and assessments, which are now assessed on said real estate, and also those which shall be assessed thereon before the execution of said deed above mentioned; but all money so expended for taxes and assessments which fall due and payable after the date hereof shall be refunded to said A. B., with interest thereon at --------- per cent. per annum, before the delivery of said deed, and as soon as called for after said deed, according to this contract, should be ready for delivery.
Fourth. - That if any of said payments, either principal or interest, to be made by said C. D., be not paid when due, or if said C. D. shall, in any other manner, break this agreement, then this contract shall be forfeited on the part of the said C. D., and the said A. B. may retain in --------- hands the payment or payments then made, and possess all improvements placed upon said premises, as the stipulated damages for the non-fulfillment of this contract, and the said
A. B., --------heirs and assigns, shall be entitled to the possession of the premises aforesaid, and of all the improvements thereon, and the said C. D. covenants and agrees that --------, and all persons holding under --------, shall and will surrender possession thereof, with the improvements, to the said A. B., --------heirs and assigns.
Fifth. - That the said A. B. covenants that he has good and lawful title to said realty; that he is the sole owner thereof; that he has power to convey the same: that the said premises are free and clear of all incumbrances except --------- and that the deed which he has heretofore agreed to execute in performance of this contract shall contain such covenants.
Sixth. - The said C. B. for her part hereby covenants to release her right of dower to the said C. D. upon the performance by the said C. D. of the covenants in this contract contained, on his part to be performed; and she further covenants that she will join the said A. B. in the deed which A. B. has heretofore agreed to make and deliver to said C. D. upon the terms and conditions aforesaid, and that she will, by such deed, release her dower in said premises to said C. D., his heirs and assigns forever.
And it is further agreed, that no sale, transfer, assignment or pledge of this contract shall be binding upon the said first party, nor shall it be of any validity or force whatever, unless such' assignment, sale, pledge or transfer be made on the Original Copy in the hands of the first party.
In witness whereof, the said parties have hereunto, and to a duplicate copy hereof, set their hands the day and year first above written.
For performance, see Sec. 2785 and 2790 et seq.
For breach by non-performance, see Sec. 2928.
For precedent covenants, see Sec. 2952.
For concurrent covenants, see Sec. 2964.
For failure of consideration, see Sec. 2989 et seq.
For acceptance of defective performance, see Sec. 3049.
For damages, see Sec. 3178, 3219.
For quasi-contractual rights arising: on breach, see Sec. 3254.
For specific performance, see Sec. 3325.
For specific performance with compensation, see Sec. 3361 et seq.
For cancelation, see Sec. 3406 et seq.