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parrg (outsourcing mgr)     12 April 2012

Alue of an agreement on rupees five stamp paper

Sir,

 What is the Importance & Value of an Agreement Signed on Rupees Five Stamp Paper, Is it Valid for judicial Puposes?

What is the Timi Limit of Validity of Such agreements



Learning

 3 Replies

k.chandrasekharan (advocate)     13 April 2012

1. Any agreement written on any paper stamped or understamped or unstamped or by exchange of letters or electronic mail, is valid between the parties thereto. The question arises only when a party wants to resile from one or more of the commitments made, the other party disagreeing, thus dispute arsing and the aggrieved party wants to enforce the agreement through a court of law. The evidentiary value of such a 'defective' document gets eroded, as it will not be admitted into evidence, unless the same is properly got adjudicated in accordance with the provisions of the Indian Stamp Act or State Stamp Act, if any, by making good the shortfall of stamp and penalty payable thereon.

The exception to this general prescripttion is when it is presented for seconary purposes or in criminal proceedings.

2. Any agreement is valid until, rescinded by a party, if such repudiation is permissible as per the agreement, and within the time stipulated if any. Otherwise by operation of the law of limitation, the agreement would get lapsed by efflux of time, which varies with the nature of agreement. Generally it is three years from the date of agreement for a large number of agreements, but the fine details are to be gone into to determine limitation.

In case of certain agreements, the time for limitation starts running from the date stipulated for performance, and does not get lapsed automatically, inless one party issues a notice of cancellation and/or demand for any monetary obligation arising from such notice.

More pointed answer is possible only when details are furnished.

parrg (outsourcing mgr)     13 April 2012

Sir,

Thanka a Lot for ur spacific Reply.

as the Details of The agreement,

It is abt an residential plot Purchased on my Name in the year 1998. But Being Coarsed by my father to sign on an rupees five stamp paper that, I cannot sale or build on that land without his permission.The propty is registerd on only my name with no refe to my fathers name.

k.chandrasekharan (advocate)     13 April 2012

Without seeing the actual papers, the conflicting rights and obligations, summarised by uou can not be looked into and correct advice provided for a course of action you propose, which too is not stated. So, at this stage, you have to consult a property lawyer at your place,


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