Catalogue description Draft Agreement

Whereby, having recited that F. T. Robinson & Co. Ltd. (of "Auburndale Works", 661, Foleshill Rd., Coventry) was incorporated on 14th. Dec., 1922 with a nominal capital of £2,500 ordinary shares: therefore, firstly, Frank Thomas Robinson (of the same address as the company, motor-body and carriage builder and general engineer (trading under the title of "Robinson & Co.")) conveys to the company the business with (a) the goodwill, (b) subsisting contracts, (c) movables, (d) debts and securities, (e) £43/17/- cash-in-hand at the bank, and (f) all other relevant property; secondly, the company will discharge debts amounting to £645/13/3 and indemnify the vendors against actions; thirdly, in consideration of £900 and indemnity, £900 will be apportioned to stock and movables (the subject of clause 1, paragraph (c)), satisfied by the issue of 900 £1 shares numbered 1 to 900; fourthly, the sale will be effective from 1st. Dec., 1922; fifthly, completion will follow forthwith, but meanwhile the business will be conducted by the vendors; sixthly, with James Walton Farr's written consent, the vendors will transfer to the company the benefit of a tenancy agreement (dated 14th. Mar., 1922) made by Farr with Robinson; seventhly, legal costs will be borne by the company; and eighthly, the company will file the agreement with the Registrar of Companies.