regarding token amount
ranveer
(Querist) 21 November 2016
This query is : Resolved
I sell my property to a person he paid token amount and with a legal agreement and mention time to pay remaining of money ,,,,i invested that token amount somewhere and make another agreement..
But the first party says to break agreement and asking for refund of the total amount he gave as token,,,,what should i do now legally,,,, please help. How much should i refund as the second party also refuse to give me back the token amount.
ranveer
(Querist) 21 November 2016
Please assist what can now be done..
Guest
(Expert) 21 November 2016
There is nothing to assist you, as your own agreement can guide you, what written in that about refund or forfieture of token money in case of breach of agreement by any party.
However, as you said, "the second party also refuse to give me back the token amount," if he is some other party than the party to agreement from whom you have taken token money, how that party is concerned with your agreement to sell your property?
Rajendra K Goyal
(Expert) 21 November 2016
Refer the terms of agreement regarding refund of token money.
R.K Nanda
(Expert) 21 November 2016
contact local lawyer.
Sankaranarayanan
(Expert) 21 November 2016
It is your duty to refund the token money which you have received from the buyer as advance asper the agreement.
Second one it is your head ache , and with your capacity to take back amicably or enforce by law . So better to consult local lawyer and get advise , act accordingly
Kumar Doab
(Expert) 21 November 2016
You should not have invested the token money if that was the only money you had in your kitty.
Now you are caught in T&C of both agreements.
Your own counsel can examine the T&C in both agreements and advise you.
ranveer
(Querist) 22 November 2016
#DHINGRA sir
There is nothing written regarding breaching in the agreement
Its a stamp paper agreement with all the details like how much money is payed and how much will be payed along with dates and signatures of both buyer and seller.
Secondly
The situation is that i sell my property to someone he gave me token amount and i buy somewhere else and gave there token amount also...
And whom i sell he refuse to pay me remaining amount..
Now how much should i return him since i also loss the token amount from whom i buy new property.
ranveer
(Querist) 22 November 2016
#kumar doab sir
Your statement is correct but
If i have such funds with me why should i sell my property.
I am not a broaker or a property seler.
Rajendra K Goyal
(Expert) 22 November 2016
All depend on the terms of agreement. If noting written, oral evidences may decide in litigation.
Kumar Doab
(Expert) 22 November 2016
Your buyer is cancelling the agreement on his own.
It is believed that it is only verbally.
What is stated in the agreement about:: if buyer cancels the agreement?
Guest
(Expert) 22 November 2016
OK, if the agreement is so simple, as you stated, you may have to refund the token money. Your agreement with the buyer of your property has no concern with the agreement of the seller, whose property you are going to buy.
