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John (self employed)     26 April 2014

Limitation period

A agrees to sell a property to B for a total sale consideration of 165 rs. The sale was supposed to be completed in 1.5 years from the date of agreement. Out of the total sale consideration 50 rs was paid at the time of agreement. Another 50 rs was to be paid on the 10th month from the date of agreement. The balance amount of 65rs was to be paid and the sale deed executed on 1.5 th year from the date of agreement. Within 1.5 years A was also supposed to get his name mutated in to the necessary records.The sequence of events that happened after that are as follows.

1. B fails to pay 50rs at the 10th month.

2. A fails to get his name mutated in the records at 1.5th     

    year.

3. So on 1.5th year A and B mutually agree to extend the

   date of executing the sale deed by another six months .

4. Even after the extended 6 months B still fails to make  

    the payment of 50rs and A still hasn't had his name

    mutated into the records.

5. Now 24 months have passed since the date of

    agreement and the new date fixed for the execution of

    sale deed has expired. But on 25th month B tranfers

    50rs into A's account via Rtgs. A endorses the payment

    by withdrawing the whole amount from his account.

6. On 29th month B sents a notice to A to get the sale deed

    executed. A sents a reply stating that since B has not

    made his payments on time A is not ready to get the sale

    deed executed. And A asks B to come and get the sale

    agreement cancelled and to collect their cash to which

    there was no reply.

7. On 37th month out of the blue B deposits the remaining

    65rs in A's account via rtgs.

8. Now 40 months have passed since the date of

    agreement and 16 months have passed since the last

   date set for the execution of the sale deed has expired.

   Even untill now A has not been able to get his name

  mutated in to the records.

 

A few questions that I have is

1. Limitation period:- When does the limitation period start

    to run ,

     A)If A has endorsed the last payment of 65rs.

     B)If A has not endorsed the last payment of 65rs.

     C)Limitation period starts to run only when A has mutated his name into the

         necessary records.

2. Can A renegotiate with B for a new sale consideration?



Learning

 1 Replies

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 )     26 April 2014

limitation period starts to run from the date of agreement 


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