Sale agreement & cheque bounce
Madhavi Dave
(Querist) 30 May 2014
This query is : Resolved
Sir, We have made sale agreement for one month which expires on 29th May, 2014. At that time amt was given by two cheques out of which one pdc cheque was bounced because of stop payment. The buyer is not answering any call of us. There is clause in agreement that "in case of cheque bounce it will be void." and " amt paid will be forfeited if not registered in one month." Can we forfeit full amt?
Madhavi Dave
(Querist) 30 May 2014
Can we send legal notice to the buyer? Please answer my question.
ROHIT SHARMA
(Expert) 30 May 2014
1. Serve him a legal notice through an advocate citing the terms and conditions as mentioned in the sale agreement have not been honored by him on account of the bouncing of his p.d.c. even if it was stop payment and the fact that he has not come forward to have the sale deed registered within the stipulated time frame then in this event the initial amount paid by him would stand forfeited and the sale agreement stands to be null and void. Mention some more enhanced period for him to keep his promise.
2. If he does not respond then you do not have to refund the initial amount and finally serve him another notice that the sale agreement has been called off.
2.
Madhavi Dave
(Querist) 30 May 2014
Thank you very much Sir for your advice.
Sankaranarayanan
(Expert) 30 May 2014
Come with identity first In our country this is the first time seeing a person by numerical name.
Devajyoti Barman
(Expert) 31 May 2014
author show your identity in absence of which we do not reply queries.
ajay sethi
(Expert) 31 May 2014
agree with rohit sharma
Guest
(Expert) 31 May 2014
Forfeit the amount and enjoy, if agreement says so, but be sure there should not be any violation from your side that would have become the cause of stop payment of cheque by the other party.
However, the intending buyer still have the option to get the agreement revived through court of law, if you have failed to serve him timely notice to ask him to pay the amount of the bounced cheque, as it is not so easy to swindle away the whole money of others and enjoy the property as well.
T. Kalaiselvan, Advocate
(Expert) 01 June 2014
Agreed with the experts views, that send a legal notice to the buyer informing him of the likely action to be taken in the event of of his non-compliance of the sale agreement conditions and proceed further as per further developments.
Raj Kumar Makkad
(Expert) 01 June 2014
Anonymous queries are not replied by experts due to a policy decision taken by experts hence no more to add.
Madhavi Dave
(Querist) 19 July 2014
@Devjyoti, Sankar narayan, Melapeddi jagarao, Dr. J. C. Vashishta& Rajkumar makkad, Sir, i asked through my sister's id n even i dont know about this numerical value. You r absolutely right. Sorry for any inconvenience caused to you. its not my intension. @ Rohit Sharma Sir, PS Dhingara Sir n T. Kalaiselvan Sir, thank you for your advise.
