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VENDOR AND PURCHASER ACT 1874 - SECT 2

Rules for regulating obligations and rights of vendor and purchaser.

2. In the completion of any such contract as aforesaid, and subject to any
stipulation to the contrary in the contract, the obligations and rights of
vendor and purchaser shall be regulated by the following rules; that is to
say,

First. Under a contract to grant or assign a term of years, whether derived or
to be derived out of a freehold or leasehold estate, the intended lessee or
assign shall not be entitled to call for the title to the freehold.

Second. Recitals, statements, and descriptions of facts, matters, and parties
contained in deeds, instruments, Acts of Parliament, or statutory
declarations, twenty years old at the date of the contract, shall, unless and
except so far as they shall be proved to be inaccurate, be taken to be
sufficient evidence of the truth of such facts, matters, and descriptions.

Third. The inability of the vendor to furnish the purchaser with a legal
covenant to produce and furnish copies of documents of title shall not be an
objection to title in case the purchaser will, on the completion of the
contract, have an equitable right to the production of such documents.

Fourth. Such covenants for production as the purchaser can and shall require
shall be furnished at his expense, and the vendor shall bear the expense of
perusal and execution on behalf of and by himself, and on behalf of and by
necessary parties other than the purchaser.

Fifth. Where the vendor retains any part of an estate to which any documents
of title relate he shall be entitled to retain such documents.

Ss.37 rep. by 1881 c.41 ss.30(2), 73; 1893 c.53 s.51 sch.

© 1874 Crown Copyright

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