Legal Question in Banking Law in India

hi lawgurus,

i was searching a home in delhi. at last i finalized one flat worth 70 lakhs, i gave cheque of 1 lakh as token amount to the owner, he gave me reciept on simple paper, without any revenue stamp/legal stamp. no agreement was signed. biana agreement of 20 lacs would be finalized next week. but today i came to know something fishy in that deal,it is resale flat. now i dont want to purchase that flat. what should i do to stop payment of cheque of 1 lakhs, which i gave him as token amount. as i dont want to purchase that flat. i informed him also that i dnt want to purchase that flat. but he already presented cheque in bank. here, i applied for stop cheque payment in my bank.

CAN SOME LEGAL ACTION BE TAKEN AGAINST ME, AS I STOPPED PAYMENT OF MY CHEQUE? HERE 1 LAKH WAS ONLY TOKEN AMOUNT,JUST TO BOOK THAT FLAT. NO LEGAL AGREEMENT WAS DONE. WHAT IS THE BETTER WAY?


Asked on 3/26/12, 2:02 am

1 Answer from Attorneys
Santosh Dash Legal Consultant

you are very much entitled to stop payment since there is no contract at all.

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Answered on 3/26/12, 2:14 am


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