karunakar reddy (asdasdasd) 24 February 2011

agreement of sale/irrevocable GPA

Market value paid. An agreement of sale cum irrevocable gpa was obtained.Buyer signed in the agreement of sale to represent the seller in all legal matters.The agreement of sale also has indemnity clause.
The said property has gone into litigation as the seller had sold the property to multiple people without intimating the buyer. Now the person who has the GPA is threatening to take criminal action against the seller. can he take criminal action against the person who gave the gpa, after all he is just a gpa holder.

karunaker reddy

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3 Replies

Bharatkumar (ADVOCATE ) 24 February 2011

please check all documents then i give proper reply.

file a criminal case.

Ram K (Manager) 24 February 2011

YES, initially he paid the market value and made an agreement between the parties and GPA has been executed for further process. this may like JV. In general under the contract act the agreement is legaly bind when there is an offier & acceptance. without the consent of the proproser the seller could not sell to third party with giving reasonable notice. the person shoudl have evidencing document to secure himself. GPA must be registered unless other wise may not take in consideration. but the same time the buyer can penalize the seller and claim damage.