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Azeem   18 December 2017

Property sale deed with pdc cheques

What should the sale deed recital contain to protect the seller against bounced cheques from the buyer


Learning

 4 Replies

Kumar Doab (FIN)     18 December 2017

The agreement to sell and sale deed should stand cancelled.

However the buyer may agree to pay or delay.

 

Kumar Doab (FIN)     18 December 2017

Preferably get Bank DD., instead of cheque.

1 Like

G.L.N. Prasad (Retired employee.)     19 December 2017

The first step in case of such risks is getting sale deed drafted by an expert. that knows more about taking precautions, as he might have in the past handled such situations.

Kumar Doab (FIN)     19 December 2017

An expert/lawyer may advise to avoid selling on PDC.

Invitation of litigation should be avoided. 

Apprhension about litigation is a good sign to rethink on T&C of the deal.


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