Non fulfillment of agreement.
Jiten
(Querist) 03 December 2014
This query is : Resolved
Dear Sir/s,
During august 2014 we have sold our one property at Mumbai to one private company for some consideration. It was also decided between us that we should enter in to an agreement on 27/11/2014 and by that time 50% of payment will be made. Rest 50% will be completed before 31/03/2015. This has written down on a plain paper and signed by both the parties. Now, buyer has turned down from his words and asking us for a refund of a token amount of Rs.11000/- paid by cash. Can we compel the buyer for the fulfillment of our written words. Can we issue notice / file a suit against the buyer company on the basis of a written words (on plain paper)? What about the token amount?
Please reply.
Thanks,
ajay sethi
(Expert) 03 December 2014
did the agreement contain provision that in event of failure on part of purchaser to pay balance amount earnest money would be forfeited . if buyer is not in position to honour the agreement cancel the agreement . consult a local lawyer . . it is necessary to go through the agreement to advice
Sailesh Kumar Shah
(Expert) 03 December 2014
contact local lawyer with plain paper agreement for further action
or
you can copy and paste agreement contains here for further advise.
Sailesh Kumar Shah
(Expert) 03 December 2014
contact local lawyer with plain paper agreement for further action
or
you can copy and paste agreement contains here for further advise.
Rajendra K Goyal
(Expert) 05 December 2014
The amount of token money is very small in such big deal. any legal step would be cost and time consuming in comparison to the amount.
