Chinna Munuswami Nayudu vs Sagalaguna Nayudu And Anr. on 5 March, 1925
In Chinna Munuswami Nayudu v. Sagalaguna Nayudu 51 M.L.J. 229 : I.L.R. 49 Mad. 387 : A.I.R. 1926 Mad. 699, a Division Bench of this Court has considered the nature of a contract of reconveyance and held that the undertaking by the vendee under the said contract was not a mere standing offer, but was an executory contract, giving a right to the vendor to get a conveyance from the vendee and was assignable by the vendor. It was also held that the contract was part of the same transaction as the sale and was supported by consideration and that it was not personal to the original vendor, but was assignable and the same was not void for perpetuity, as the period for the exercise of the option was definite and limited.