Negotiable instrument act
Satya nand aggarwal
(Querist) 20 June 2014
This query is : Resolved
I entered into an agreement to sell to purchased the property for Rs 4 Lacs. Later the matter was compromised orally and the agreement was cancelled and the seller agreed to refund the amount of Rs 2.5 lacs ie Rs one lac as earnest money and 1.5 lac as damages and gave the cheque of Rs 2.5 lacs. The cheque was bounced.My query is
1. Whether the case is made out.
2. Whether this amount is legally enforceable debt or not.
3. Whether i can file both the cases ie of Specific Performance s well as under NI act
ajay sethi
(Expert) 20 June 2014
agreement for sale must have been in writing. deed of cancellation must have been made out . issue legal notice under section 138 NI .
Advocate Bhartesh goyal
(Expert) 20 June 2014
Yes you can file both cases.Issue notice to opposite party for performance of contract on basis of oral agreement.For cheque bouncing case, issue notice to drawer u/s 138 of N.I.Act.
Rajendra K Goyal
(Expert) 20 June 2014
Send notice u/s 138 NI Act. Agree with the experts.
