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JAGADEESH GOVIND (ADVOCATE)     02 May 2008

Future Asset

Sir,

Can we enter an agreement for sale for a future immovable asset ?



 3 Replies

Nitish Sahay (Advocate)     03 May 2008

According to Section 2(e) of the Indian Contract Act "Every promise and every set of promises, forming the consideration for each other, is an agreement". Following this definition, we can enter enter an agreement for sale for a future immovable asset as because the promise to give the future asset is forming a consideration for one party who is paying to another party. However it cannot be considered as contract as because contract must be enforceable by law and in this case the future property which is currently not in possession cannot be enforced by law.

JAGADEESH GOVIND (ADVOCATE)     03 May 2008

Sir, Thank you for your valuable advice Jagan

Guest (n/a)     03 May 2008

Its all right Regards Nitish

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