Specific performance

kamal (Querist) 22 March 2012 This query is : Resolved
I MADE AN AGREEMENT ON 16-06-2008 TO SELL HOUSE PROPERTY IN PUNJAB FOR 10LAC. BUYER PAID 2LAC. ASADVANCE AND AGREED TO PAY BALANCE ON OR BEFORE 30-06-2009 AND GET REGISTRY DONE FAILING WHICH HIS ADVANCE WILL BE FOREFEITED. HE DIDNOT TURNUP FOR PAYING BALANCE AMT. AS AGREED BUT PAID RS2LAC MORE ON 04-07-2009 AND REQUESTED FOR TIME UPTO 31-07-2009.,TO WHICH IAGREED AND SAME WAS NOTED ON AGREEMENT ITSELF. AGAIN HE DID NOT COME. IN AUG 2009 IGAVE LEGAL NOTICE GIVING ANOTHER CHANCE TO GET REGISTRY FAILING WHICH AGREEMENT WILL STAND AS CANCELLED AND MONEY PAID WILL BE FOREFEITED. AGAIN HE DIDNOT CAME. NOW HE THREATS TO FILE SUIT FOR STAY ON PROPERTYAND FOR SPECIFIC PERFORMANCE. SHOULD I AGREE OR NOT.PRICES OF PROPERTY HAVE INCREADED CONSIDEABLY.

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Adv.R.P.Chugh (Expert) 22 March 2012
Dear Mr.Kamal,

Time was of the essence in the contract, meaning thereby when he failed to fulfill his commitment within the stipulated time - you are within your right to rescind/cancel the agreement. You can start by serving him a notice of recission followed by a suit for rescission through court. As regards advance already paid, whatsoever the contractual stipulation - you will be entitled to forfeit a reasonable part of the same.

Raj Kumar Makkad (Expert) 23 March 2012
You are not bound to follow his dictates as time was essence of the agreement. I endorse the views of Bharat in this regard.

Guest (Expert) 23 March 2012
The buyer is not ready and willing to perform his part. So equitable remedy cannot be granted. So the specific performance cannot claimed. Only the earnest money can be ordered to be refunded with interest. Ur agreement is valid till 7/12.there is charge upon property

H. S. Thukral (Expert) 23 March 2012
You can rescind the contract. Regarding forfeiting the token money and advance, you have to show that you suffered damages to that extent.