D.Das (VP) 10 July 2016
Please help me with your expertise for the following issues:
1. If the advance money/ earnest deposit paid by the buyer comes from a scam (later proved in the court of law) then is the seller bound to honour the sale agreement?
2. If the buyer successfully raises a bank loan by forging documents and bribing the bank staff and it is proved that way then is the seller still bound to honour the sale agreement?
Please suggest case laws, if any.
Kumar Doab (FIN) 10 July 2016
Proof of source of funds is buyer's issue.
Seller may post the proceeds properly in books.
If the purported fraud is knowledge then buyer does have moral responsibility to report.
This is as per limited understanding from the post/query.
D.Das (VP) 16 July 2016
Thanks for your reply!
If the buyer is readywith gotten money then the seller has a risk of getting entangled in police case when the money trail is established even though paid by cheque.
Even then is the seller bound to accept the ill gotten money and execute the sale deed under specific performance?
Kumar Doab (FIN) 17 July 2016
Seller may ask the proof of source of funds.
What specific performance?
Is it a court decree?
You seem to have many queries that can be attended by a very able counsel after due examination of docs/record and your inputs.
Kumar Doab (FIN) 17 July 2016
@ Atulit,
Pls participate in the discussion.
Pls do not just advertise in the threads.
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