( 1 ) IN regard to this transaction of lease with option to purchase Ex. 151 in regard to S. Nos. 47/1 and 47/2 it is necessary to appreciate the arguments of the claimants before us to know the real nature of this transaction. S No. 47/1 comprises of 1 acre and 23 gunthas and the claimants have 1/4th share in the total area of 7 gunthas of S. No. 47 This document which at this stage for the sake of convenience we shall describe as a lease with option to purchase-document is entered into between the claimants of S. Nos. 47/1 and 47/2 as the purchasers-cum-lessees again an expression used as a matter of convenience on the one side and the vendor owner Becharbhai Bapuji on the other side on 2nd May 1946. This document Ex. 151 recites that there was a prior agreement between the parties by which S. Nos. 47/1 and 47/2 were to be leased with option to purchase. That prior agreement was dated 6th November 1945. It is further recited that Rs. 2000/were paid on 6th of November 1945 by a cheque; Rs. 1000/were paid on 14th November 1945 Rs. 5000/were paid on 21st March 1946 while extending the period of agreement of the transaction and Rs. 7915-7-6 were paid on 2nd May 1946 which is the date of the execution of this document. The document Ex. 151 was executed in due performance of the earlier agreement between the parties. Amongst the important terms and conditions of this document are that it was agreed to sell the two survey numbers by the vendor to the claimants who were described as the parties of the second part for a sum of Rs. 63 657 The total yardage of both the survey numbers was described as 7634 3/4 sq. yds. and the rate per sq. yd. was stated to be Rs. 8-2-0. The document further recited the receipt as stated earlier in several installments of a total sum of Rs. 15 914 It was further stated that the balance of the purchase price that remained was Rs. 47 743 It was further stated that for the balance of the said amount a lease for 999 years was by this document made between the parties with an annual rental of Rs. 2148-6-0 which was calculated as being the interest at 41/2 p. c. on the said balance amount. The document further recited the terms and conditions of the transaction. The lessees were to pay the said rent in advance every year and if they did not pay the same could be recovered by the owner with interest at the rate of 6 p. c. from the person and property of the lessees. No right of forfeiture of the lease or re-entry has been reserved by the document. There is no restriction on the lessees for the use of the land. All taxes were to be paid by the lessees and the lessees were to indemnify the lessors in respect of the taxes. The lessees have been given the right of transfer and assignment. It was also one of the terms of this document that if the land was acquired at any time then from the compensation the owner was entitled to the total purchase price fixed under this document and if there was any surplus it would go to the lessee. It was also provided by this document that the lessees had option to purchase at any time within 10 years of the execution of this document by paying the balance of the purchase price viz. Rs. 47743. 00. if the lessees did not exercise their option within 10 years then thereafter it was at the option of the lessor whether to sell the land to the lessees and further in case the lessees did not exercise the option to purchase within 10 years the lessees had no right to the 1/4th part-payment of the purchase price viz. Rs. 15914-11-6. It was further provided that till the period of the lease viz. 999 years the lessees were to pay the said annual rent of Rs. 2148 and at the end of the period of the lease the lessees had to restore the land to the lessors in the original condition. These are in brief the important terms and conditions of this document

( 2 ) IT was contended on behalf of the claimants that this transaction falls within the ratio of the Frenchmans case reported i