Legal validity of reciept

Querist : Anonymous (Querist) 19 May 2010 This query is : Resolved
Dear experts
I have signed a receipt of money, which i have received for sale of my land, amount is nominal. as per mutual understanding the purchaser have to get sale deed executed within one month from the date of receipt. But the purchaser made default, he is not willing to execute sale deed in near future. Now i also dont want to sell him the property, what will be the consequenses of that receipt. Shall i bound to execute sale deed in favour of that purchaser who had paid receipt amount or i can sell it to any other person without consent of the previous purchaser. Pls suggest

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Raj Kumar Makkad (Expert) 19 May 2010
If you have not signed any agreement for sale then you are free to sale it to any person and mere receipt of money is no ground to get executed the mentioned sale-deed in favour of earlier buyer. receipt of money can also be against some earlier consideration of money.

A V Vishal (Expert) 19 May 2010
What are the terms of your agreement determine the case. However, generally there is a forfeiture clause in the agreement which can be invoked by you. Since you are not interested in selling your property to the purchaser, you may serve a legal notice rescinding the contract and wait for expiry of the notice period mentioned in the notice for any objections of the purchaser, thereafter if you don't get a reply you may sell your property to some other intending purchaser.

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