BONDS. Pay rent. No. CCXLII. Bond for Payment of Rent and Performance of Covenants in a Variations where the Vendor is an Assignee of the Premises (1). KNOW ALL MEN, &c. (3) years, now to come therein, subject to the payment of the performance of certain covean indenture of lease bearing which was in the year WHEREAS the said (purchaser) hath (vendor) for the purchase of certain leasehold messuages or tenements and premises situated at for the residue of a certain term of at or for the price or sum of £ yearly rent of £ and to the nants reserved and contained in date the day of and made or expressed to be made between (the lessor) therein described, of the one part, and the said (vendor) of the other part; and by an indenture bearing even date with the above written obligation, and made or expressed to be made between the said (vendor) of the one part and the said (purchaser) of the other part, the same premises have been assigned to him the Lessee liable (1) A lessee notwithstanding assignment continues liable to the notwithstanding payment of the rent and performance of the covenants of the lease, but assignment. an assignee is no longer liable than whilst he holds possession of the premises; Taylor v. Shum, 1 Bos. and Pul. 21. Where, therefore, the vendor is an assignee of the premises no indemnity will be requisite against such rent or covenants, unless where he entered into some security for indemnifying his vendor, in which case recite the assignment and covenant or bond entered into by him for that purpose. Extent of bond. Obliga ation. (2) Where a bond is given generally for the performance of covenants in a lease, it extends to breaches of implied as well as express covenants. See Iggulden v. May, 9 Ves. 330. (3) See the form of the obligatory part of a bond, ante, p. 77. BONDS. Pay rent. said (purchaser) accordingly. AND WHEREAS the said (purchaser) hath agreed to indemnify the said (vendor) from the payment and performance of the said rent and covenants, and to enter into the above-written obligation for that purpose with such condition for making void the same as hereinafter is expressed. NOW THEREFORE THE CONDITION (1) of the above written obliga- CONDITION. tion is such, that if the above bounden (purchaser), his executors, administrators or assigns, do and shall from time to time, and at all times hereafter, during the residue or remainder which is now to come and unexpired of the said term or period of years (or during such part or portion thereof as he or they shall or lawfully may have and enjoy peaceable and quiet possession, under or by virtue of the hereinbefore in part recited indenture of assignment, of the said messuage or tenement and premises thereby expressed to be assigned, according to the true intent and meaning thereof, against the said (vendor), his executors and administrators, and all persons claiming from, under or in trust for him or them) well and truly pay, or cause to be paid, the yearly rent of £ day of in or by the said hereinbefore in part recited indenture of lease reserved, (1) If the bond be conditioned for the performance of covenants Performance of generally, say, "Now THE CONDITION of the above-written obligation is such, that if the above-bounden (obligor), his heirs, executors, or administrators, do and shall well and truly observe, perform, fulfil, and keep all and singular the covenants, provisoes, declarations, conditions, and agreements comprised or mentioned in a certain indenture bearing or intended to bear even date with the above-written obligation, and made or expressed to be made, &c. which on the part and behalf of the said (obligor) are thereby required to be observed, performed, fulfilled, and kept respectively, according to the purport and true intent and meaning of the same and of the said parties thereto. THEN, &c. or else," &c. covenants. BONDS. Pay rent. Vendor an assignee. less and indemnified the said (vendor), his executors and administrators, and his and their lands and tenements, goods, chattels, and effects from and against the same rent (1), covenants, and agreements, and of and from all actions, suits, costs, charges, damages, and expenses whatsoever, which he, they, or any, or either of them, shall or may pay or sustain, or which shall or may arise or be occaşioned by the non-payment, non-performance, or non-observance thereof respectively, or of any of them. THEN, &c. or else, &c. (1). When the vendor is an assignee of the premises, say, "From and against the said in part recited bond or obligation [or covenant (as the case may be)] so entered into or given by him the said (vendor) for payment and performance of the same rent and covenants respectively, and of and from all actions, &c." as above. Stamp. A bond conditioned for the payment of an annual rent is within 55 Geo. 3. c. 184, imposing a duty on bonds given as a security for the payment of any definite and certain sum of money, and must accordingly, it should seem, be stamped with the ad-valorem duty upon the gross amount of the rent reserved for the whole term, it being a bond for the payment of that sum at future periods. See Attree v. Anscomb et al. 2 Maul. and Selw. 88. BONDS. Perform (award). No. CCXLIII. Bond to perform Award upon the submission of Disputes to KNOW ALL MEN, &c. (2) WHEREAS disputes having arisen (1) An action at law is not maintainable for the performance of a Bond. covenant to refer disputes to arbitration, because of its having a tendency to exclude the jurisdiction of the courts, and because it cannot be certain that the plaintiff would have had an award in his favour, and therefore it is not known that he is damnified for want of the reference; Pattersail v. Groote, 2 Bos. and Pul. 131. Gow. 116. 125. 127; and whence the propriety of a bond. (2) See the form of the obligatory part of a bond, ante, p. 77. Obligation. BONDS. Perform (building contract). No. CCXLIV. *Bond from a Builder and Sureties for Performance of a Contract for erecting Buildings. Recital. KNOW ALL MEN, &c. (1), WHEREAS, &c. [recite the agree ment for erecting buildings, &c.] (As in and by the said in part recited articles of agreement, relation being thereunto had, will more fully and at large appear.) AND WHEREAS previously to and at the time of entering into the said contract, it was agreed that the said (builder), together with two persons as his sureties, should enter into a bond or obligation in the penalty above mentioned, conditioned for the due performance of the said contract, in conformity to the said articles of agreement. AND WHEREAS the said (builder) has proposed, and (employer) has accepted the CONDITION. above-named (sureties) as suretics for this purpose. Now THE CONDITION of the above-written obligation is such, that if the above bounden (builder), his executors, administrators or assigns, do and shall execute, perform, and perfect, or cause and procure to be executed, performed, and perfected in a good, substantial, and workman-like manner, and to the reasonable satisfaction of the surveyor or surveyors, to be employed by the said (employer), his executors, administrators, or assigns, either to superintend the said building in its several stages of progress, or to survey and examine the same after it shall have been erected and finished, AND all and every the bricklayers, carpenters, masons, plasterers, painters, plumbers, smiths', and other works or business which shall be necessary or required to be done, performed, or executed in and about the erecting, constructing, finishing, and completing of the said building. AND also do and shall perform and execute, or cause or procure to be performed and executed, all and every the said work with such good bricks, lime, timber, and other materials, as are mentioned and par Obligatio (1) See form of obligation, ante, p. 73, and notes. |