Legal advice
yagnesh dave
(Querist) 05 November 2015
This query is : Resolved
MYSELF ENTERED INTO MOU AGREEMENT DULY NOTARISED FOR SALE OF RESIDENTIAL HOUSE & SALE CONSIDERATION IS TO BE PAID BY PURCHASER IN MONTHLY INSTALLMENTS MENTIONED IN THE MOU ALONGWITH FOLLOWING CLAUSE.
1-PAYMENT SCHEDULE IS ESSENCE OF THE CONTRACT
2-IF THE PURCHASER FAILS TO PAY IN TIME THEN INT @ 18% LEVIABLE ON DELAYED TIME BUT RESTRICTED TO 1 MONTH DELAY ONLY & FURTHER IF FAILS THEN THE AGREEMENT WILL BE TERMINATED & THE AMT WHATEVER PAID BY PURCHASER WILL BE FORFEITED THE SELLER IS LIBERTY TO SALE TO OTHER BUYER
3-NOW THE PURCHASER HAS FAILED TO PAY THE SCHEDULE PAYMENT AS FIXED & REMINDER LETTER IS ALSO SERVED DULY ACKNOWLEDGED BY PURCHASER.
PL EXPLAIN LEGAL ADVICE FOR SELLER SAFEGUARD AND THE AMT RECVD CAN BE FORFEITED
P. Venu
(Expert) 06 November 2015
The seller cannot unilaterally forfeit the amount received; this is possible only through due process of law.
And the Court is unlikely to accede to unjust enrichment.
Rajendra K Goyal
(Expert) 06 November 2015
You have served notice of termination of the deal as per terms of agreement.
Let him approach court for any claim which in turn would be decided on merits.
Rajendra K Goyal
(Expert) 06 November 2015
Repeated:
http://www.lawyersclubindia.com/experts/Advice-569261.asp#.VjyUJrcrLIU
