Beasley, C.J.

1. This is an appeal from a judgment of Stone, J., which, as our learned brother says, raises a very interesting point of law. It relates to an oral agreement or arrangement entered into on 13th July 1931 between the plaintiff-appellant and the defendant-respondent. This agreement was for a lease for three years; and the question for consideration is whether it is an agreement within the provisions of Section 107, T.P. Act, which provides that a lease of Immovable property for any period exceeding one year can be made only by a registered instrument, and that all other leases of immovable property may be made either by a registered Instrument or by oral agreement accompanied by delivery of possession. Turning to Section 105 a lease is therein defined as follows:

A lease of Immovable property is a transfer of a right to enjoy such property.

2. In this case the lease was of immovable property for a term of three years : and it was contended on the defendants behalf at the trial that the agreement in question was a present transfer of a right to enjoy Immovable property within the provisions of Section 105 and therefore being for a term exceeding one year, necessita