Legal Question in Civil Rights Law in India

i have made a visarpavti for sale a land 2.35 guntha and i received a chq. of Rs. 300000/- as an advance and deposited the same and encash the cheque. the total consideration is Rs. 550000/- now i dont want to make such deal and I am ready to return all money. we made visarpavti and notrised the same tell me the gate way please how i stop such deal and is i am liable to pay penalty or interest on such amount or if yes then how much..??? and one more thing their is no clause in visarpavti to pay interest or penalty if deed is cancel


Asked on 10/27/15, 3:23 am

1 Answer from Attorneys

Vivek Mapara Vivek N. Mapara

Dear Sir

To precisely reply to your query, the provisions in the Contract are required to be perused, then only it can be advised as to whether you can cancel the deed or not, also if you cancel the deed then whether any penalty or interest is payable or not.

Remember, under the law of Contract, even if there is no mention about penalty or interest, then also, court has ample power, in given cases, to order damages for wrongful termination of contract to the detriment of other party and impose penalty and interest. So facts are required to be minutely analyzed to know what can be the consequences.

Normally, a contract can be revoked at the behest of any party, and a contract once rescinded cannot be performed. However, this is subject to the terms of the Agreement.

So subject to terms and conditions of your agreement, you can send the Notice of Termination of Contract, and also send along with the Notice, Cheque of the earnest money. Make specific averment in notice that realization of such cheque shall deem to be acceptance by the Buyer as full and final settlement of all claims.

Should you have any questions, then feel free to contact me.

Regards

Vivek N Mapara

vnmlaws.com

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Answered on 10/27/15, 8:20 am


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