Catalogue description Agreement

This record is held by Coventry Archives

Details of PA 353/42/2
Reference: PA 353/42/2
Title: Agreement
Description:

Whereby, firstly, Albert Effingham Turner (of 19, White St., Coventry, newsagent and tobacconist) conveys to Raymond Herries Wagstaff (of "Delaware", Westwood Rd., Sutton Coldfield, Warws.) the business of a newsagent and stationer and wholesale and retail tobacconist (carried on at 19, White St.) with scheduled stock and fittings; secondly, the price for the goodwill and fixtures will be £6,200, but the stock-price will be equivalent to an agreed valuation to be made by Wagstaff and by Messrs. Robinson, Osborne and Moules [of 16, Warwick Row, Coventry, auctioneers] on behalf of Turner (referzable to arbitration); thirdly, the vendor acknowledges receipt of a £620 deposit - the balance will be paid at Ortons' office on 14th. Feb., 1949, Turner delivering to Wagstaff an assignment of lease dated 18th. Nov., 1947; fourthly, Turner will retain possession until completion; fifthly, if the operation shall not have been completed on the agreed date, the purchaser will pay £5% p.a. interest thence to the transactions' end; sixthly, Turner will collect his own book-debts; seventhly the account-books will become Wagstaff's property on completion but remain at the shop for six months for mutual inspection; eighthly, the vendor promises not to be interested in any similar business (for five years from the date hereof) conducted within two miles "as the crow flies" from the premises without Wagstaff's consent; and ninthly, the agreement may be rescinded if Wagstaff fails to complete the purchase within three months.

 

Schedule of fittings.

Date: 20th Jan, 1949
Held by: Coventry Archives, not available at The National Archives
Language: English

Have you found an error with this catalogue description?

Help with your research