Legal Question in Business Law in India
I have entered into an agreement for sale of my Compay along with land on a non judicial stamp paper and the agreement has been notarised. He has also paid me advance cheques for the same partly. He is just delaying the payment and the cheques are already 1 month old. What should I do?
Asked on 5/16/15, 12:01 pm
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
17.05.2015
Dear Sir / Madam,
The Agreement must have mentioned a time limit for settlement of the purchase consideration to you by the Purchaser. If that time period has passed, you are entitled to rescind and cancel the contract on account of non-fulfillment of payment terms by the Purchaser.
Regards,
Answered on 5/16/15, 8:45 pm
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