AGREEMENT is made on...... this..... day of..... between Mr. A carrying on
business at... hereinafter referred to as 'the Owner' of the One Part and Mr. B
residing at......... hereinafter referred to as 'the Hirer' of the Other Part.
the Owner is carrying on business of dealing in furniture and has its office
and showroom at (details of address)
WHEREAS the Hirer has agreed to take on hire some pieces of furniture for
furnishing his newly purchased and occupied Flat at (address) and which the
Owner has agreed to give on hire to the Hirer on the following terms and
IT IS AGREED BETWEEN THE PARTIES HERETO AS FOLLOWS: -
1. The Owner agrees to
give on hire and the Hirer agrees to take on hire the items of furniture which
are mentioned in the Schedule hereunder written for a period of........ years
(or as long as the Hirer desires). The said furniture has been delivered by the
Owner to the Hirer and the latter acknowledges receipt thereof.
2. The Hirer agrees to
pay to the Owner by way of hire charges a sum of Rs.... as the lump-sum amount
for all the Items of furniture mentioned in the Schedule annexed herewith for
the payment of each month.
3. The said charges will
be paid by the Hirer to the Owner in advance on the 5th day of each month
hereafter during the period the hire continues. The proportionate hire charge
for the current month has been paid by the Hirer on the execution of this
4. The hire charges will
be paid by the Hirer as aforesaid at the place of business of the Owner
aforementioned punctually on or before the fifth day of each month as before
5. The Hirer covenants
with the Owner that;
a. He will make payment
of the hire charges every month punctually as aforesaid.
b. If there is default
in payment of any instalment on the due date, the Hirer will pay interest on
the amount of each monthly charge at the rate of Rs. 0.5% per month for the
days of delay. This provision is without prejudice to the right of the Owner to
take any other action for breach of the covenant as herein provided.
c. He will not remove
the said items of furniture or any of them from the said flat in which the
Hirer is at present residing without the written consent of the Owner.
d. He will maintain the
said furniture in good condition, subject to normal wear and tear. If any
damage is done to any of the said items of furniture he will make it good by
carrying out repairs through the Owner and he will pay the repair charges to
the owner separately.
e. If any of the said
items is stolen or otherwise lost or destroyed or damaged beyond repairs, the
Hirer will pay the price thereof as per the Owner's catalogue of prices then
prevailing or In force, irrespective of whether the Hirer is or is not
responsible for such loss, destruction or damage. If the loss or destruction or
damage occurs, the Hirer will make it known to the Owner in writing immediately
after such loss or damage. Subject to payment of the amount of loss or damage
by the Hirer, the Owner will either substitute the lost or damaged item or will
reduce the Hire-charges proportionately.
f. He will allow the
Owner or his authorised agent to inspect the said furniture as and when
required once every month any day.
g. He will not part with
possession of the furniture or any item in favour of any other person. He will
not sell, hypothecate or pledge the said furniture or any item thereof.
6. The property in the
said furniture will always remain with the Owner, and the Hirer will hold the
same as a bailee.
7. The Owner is not
liable for any defects in the said furniture or any item thereof and the Hirer
has taken inspection thereof and is satisfied with the condition thereof.
8. The Hirer will not do
any act or omit to do any act by which the right of the Owner to the said
furniture will be prejudiced.
9. If the Hirer does not
want to continue the hire he will give at least fifteen days' notice to that
effect to the Owner and on the expiration of the said period mentioned in the
notice, this agreement will stand terminated.
10. If the Hirer commits
breach of any term or covenant contained in this agreement, the Owner will be
entitled to terminate this agreement by fifteen days' prior notice and on the
expiration of the said period this agreement will stand terminated.
11. If this agreement is
terminated by the Hirer or the Owner as aforesaid or by efflux of time or
duration of this agreement as aforesaid, the Hirer shall at his own costs,
return the said furniture forthwith. If he fails to do so, within eight days
from the termination, he will be liable to pay to the Owner a sum of Rs.......
being the present price of the furniture together with all other amounts
payable by him to the Owner under any of the provisions of this agreement. This
is without prejudice to the right of the Owner to take back possession of such
furniture by due process of law.
12. The termination of
this agreement for any reason will not prejudice or affect the right of the
Owner to recover from the Hirer any amount payable by him to the Owner by
virtue of this agreement.
WITNESS WHEREOF the parties have put their respective hands the day and year
first hereinabove written.
SCHEDULE ABOVE REFERRED TO
the within named Owner... in the presence of...
and delivered by the within named Hirer... in the presence of...