The main question to be decided in this Second Appeal filed by the first defendant from the judgment and decree of the learned Subordinate Judge of Coimbatore, in A.S. No. I of 1958 is whether the conveyance under Exhibit B-1, dated 28tn May, 1946, is an out and out sale with a covenant for re-purchase or a mortgage by conditional sale. The trial Court with which the lower appellate Court agreed held that Exhibit B-1 was a mortgage by conditional sale and granted a decree for redemption. The aggrieved first defendant has preferred this Second Appeal.

The property in question originally belonged to one Palani Moopan. He executed Exhibit B-1 in favour of the first defendant for a consideration of Rs. 4,000. The document was styled as a sale-deed and purported to convey the property absolutely to the first defendant by way of sale. Out of the consideration, a sum of Rs. 2,000 was reserved with the vendee to pay off an earlier mortgage on the suit property and certain other properties. The balance of Rs. 2,000 was paid to the vendor in cash. The first defendant discharged the earlier mortgage in accordance with the directions in the sale-deed. The sale-deed recited that the p