Draft a specimen deed of assignment of business debts.

SPECIMEN DEED This dated of Assignment is made this............ day of ............ Between 'CD' s/o............ residing at ............ (hereinafter referred to as the ASSIGNOR or which term shall include his heirs legal representative) of one part and 'AB' s/o of ............ residing at ............ (hereinafter referred to as the ASSIGNEE(S) of other part. WHEREAS the ASSIGNOR has for some time past carried on the trade or business of, etc, in the course whereof the several persons whose names, address and occupation are mentioned in the schedule hereunder written, have become lawfully debtors to him and so for the several sums of money set 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 ₹............ NOW THIS DEED WITNESSES that is consideration of the sum of ₹............ now paid to the ASSIGNOR by the ASSIGNEE (the receipt of the sum ASSIGNOR hereby acknowledges), the said 'CD' sells, transfers and assigns unto the said 'AB' all the several said debts and sum of money specified in the said schedule which are now due and owing to the ASSIGNOR TO HAVE AND TO RECEIVE them for his absolute use and benefit with absolute power to enforce payment thereof by suit AND that the ASSIGNOR does hereby covenant with the assignee that all the several debts are lawfully due to him and the parties by whom they are payable are alive and further that he has not entered into any arrangement with any of them AND that the ASSIGNOR shall at all times hereafter do execute, and perform all such and other acts, deeds etc. As may be reasonably required for further and better transferring and/or assuring them or any of them. Schedule above referred to Signed, sealed, sealed and delivered etc. Witness: Assignor Witness: Assignee