Termination of MoU

G.Subapriya (Querist) 29 April 2016 This query is : Resolved
I signed a MoU with a bank for letting out my commercial property( which is under construction according to the specification of the bank) . The rent I signed upon which was Rs.100 per sqft(5 months back). But now the demand for the property is very high ( almost double). So I want to terminate the MoU. What should I do? Will there be any legal binding on me?note: there was no monetary transaction happened until now). What reason can I give them other than rent?

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P. Venu (Expert) 29 April 2016
Honouring a promise is the foundation for a healthy society and it is the quality that marks a responsible citizen.

Rajendra K Goyal (Expert) 29 April 2016
Repeated query, no reply:

http://www.lawyersclubindia.com/experts/Termination-of-MoU-596296.asp#.VyNWxoR97IU

Dr J C Vashista (Expert) 01 May 2016
No reply for repeated query. Seek professional services of a local lawyer.

T. Kalaiselvan, Advocate (Expert) 05 May 2016
If repeated then no reply from my side too.

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