9911796707
TMI Blog1929 (12) TMI 3X X X X Extracts X X X X X X X X Extracts X X X X ..... , 1910. On May 7, 1923, the first and second defendants, who are the owners of the leasehold interest, executed a mortgage by way of sub-lease of the leasehold premises, sub-letting them for the unexpired residue of the term, and on January 25, 1924, the plaintiffs, who are the representatives of the original lessor, instituted the present suit to enforce a forfeiture. 3. Both the Courts below held, following the English decisions, that an absolute demise by sub-lease for the unexpired residue of the term would operate as an assignment of the term and be a breach of a covenant against assignment, but the trial Judge held that, under the terms of the mortgage of May 7, 1923, there was not such an absolute demise, whereas the Appellate Ben ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ged for that purpose, as in England, to grant a lease for lives, or for a term, with a covenant for perpetual renewal; and, similarly, a lessee as sub-lessor can create a sub-lease for the unexpired residue of the term with the same incidents as any other sub-lease. 6. Leases in perpetuity are expressly included in the definition of lease in Section 105 of the Transfer of Property Act:- A lease of Immovable property is a transfer of a right to enjoy such property, made for a certain time, express or implied, or in perpetuity, in consideration of a price paid or promised, or of money, a share of crops, service or any other thing of value, to be rendered periodically or on, specified occasions to the transferor by the transferee, wh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Sixth. --The said lessees shall have no power save amongst themselves as Hereinafter mentioned to assign, transfer or in any way to alienate their right, title and interest upon the demised land and the buildings so to be erected by ' them thereon as aforesaid created by virtue of these presents. Provided nevertheless that neither of the said lessees shall be entitled to exercise the right of transfer or assignment among themselves as is hereinbefore reserved until a competent engineer to be approved by the lessor certifies that the construction of the buildings so to be erected on the demised lands as- aforesaid is completed at a cost of not less than ten thousand rupees as is hereinbefore provided. 10. The covenant against as ..... X X X X Extracts X X X X X X X X Extracts X X X X
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