20 May 2019
Respected Sir / Madam we have taken bayana from a buyer on dec 6 2018. . the due date of execution is 6th June 2019. he has paid nothing apart from bayana. now he says that he has he will give the money when he has it. . the sale agreement has a clause of interest and penalty if any party fails to honor the agreement. . however the % of interest and penalty is not mentioned. . also, we had signed on the agreement at the dealer's office. it was past 8.30 pm then. they said that "the shops are closed now. we will give the photocopy tomorrow". . . but have not given us the copy of the initial sale agreement. they kept on saying 2 days 2 days for a while. and since they have refused to give a copy of the agreement to us. what could be the course of action for us now ?? . . . is there any standard percentage of interest and penalty under law that would be applicable in such cases where the percentage of interest and penalty is not mentioned in the agreement ? . If not then what would be the interest and penalty ??
. . pls guide sir .. the house / property in question is in Delhi . just to inform, the possession of the said property is with us. means we are staying in our house, the house that is to be sold by us... . also i want to inform that the buyer has not signed anywhere in the agreement. only we have signed. his name, address etc was mentioned but he has not signed anywhere. we have signed each and every page and our photographs are also affixed on it. is this standard procedure ? please guide sir.