breach of agreement
aman
(Querist) 04 December 2014
This query is : Resolved
Dear experts
My freind has an agreement with a govt. Bank for generator rent,in which bank has promisd to pay 11500 per month as rent of generator,this agreement was made in 2013 for 3 years. But now bank is breaking this agreement and making a fresh agreement with someone else for instaling generator..although there is no such clause in said agreement in which bank has any right to break the agreement at any moment,my freind has bought that generator on loan frm the same bank..if bank will break the agreement without completion thn how my fren wil repay the loan to same bank..please sugest what remedies are there before my frend .. thanku.
Devajyoti Barman
(Expert) 04 December 2014
File a case of declaration and injunction if Bank does not agree to your proposal. That will attract more expenses and be ready for that.
Sailesh Kumar Shah
(Expert) 04 December 2014
well advised by learned expert sh. devajyoti barman.
ajay sethi
(Expert) 04 December 2014
what are the clauses in agreement entered into with bank for breach of contract? issue legal notice to bank as per terms of agreement
malipeddi jaggarao
(Expert) 05 December 2014
That all depends on the clauses relating to termination of agreement before the agreed term. If the Bank reserved its right to terminate the agreement, though your firned obtained a loan for generator, it is not that bank should continue hiring of generator if the termination is as per the terms of agreement. He has find out another amenity to rent his generator and pay the installments.
Rajendra K Goyal
(Expert) 05 December 2014
There must be clauses for termination of the agreement and if Bank terminates the agreement without following the process, suit can be filed.
Bank has given you loan for purchase of generator and you are liable to pay irrespective of the fact Bank take the generator on rent or not.
You should request personally to the concerned Manager and if necessary to the regional manger not to terminate the agreement.
aman
(Querist) 06 December 2014
There is no such clause in agreement that bank can terminate the said agreement.
T. Kalaiselvan, Advocate
(Expert) 09 December 2014
It will depend on the terms and conditions of the agreement for the purpose. If there is no binding clause then the bank's action will be held legally right.
Sailesh Kumar Shah
(Expert) 11 December 2014
issue legal notice and if no solution is come then file the case against the bank.
