about agreement to sell
hanush jindal
(Querist) 11 October 2010
This query is : Resolved
if a can enter in to ageement to sell his property for total sale considration of 5 lakh and setele the earnest money as 1 lakh out of which 50000 took on whn agreement to sell is written and second instalment was given after one month as 50000 and also there is agreement when second instalment is given the seller will give receipt to other person when second instalment is given and if the bayer wil not pay the second instalment is agreement is valid.if yes when the bayer took a pli that the seller wil not give him recipt so the bayer will not pay second instalment thn wat remedy available to bayer
Devajyoti Barman
(Expert) 11 October 2010
On the default of one instalment the agreement does not become canceled unless it could be proved that 'time was the essence of the contract'.
The buyer even after some time can make the payment. However of after making the initial payment the buyer continues to default for quite a some time then the seller can give notice to the buyer stating the agreement as canceled offering to return the initial payments with deductions if there is such clause in the agreement.
