Buyer Not Complying With Timeline For Payment Can't Seek Spe
Buyer Not Complying With Timeline For Payment Can't Seek Specific Performance Of Agreement To Sell : Supreme Court
|
The Supreme Court in a recent decision held that when a contract stipulates a specific time frame within which the consideration needs to be paid by the 'buyer' to execute the 'agreement to sale' by the 'seller', then the buyer must strictly adhere to such condition, otherwise, the 'buyer' can not avail a remedy of specific performance of the sale deed.
Reversing the concurrent judgments passed by the High Court and the First Appellate Court, the Bench of Justices Vikram Nath and Ahsanuddin Amanullah, observed that within six months, there existed the onus of paying the entire balance, however, it is not the case of the respondents that they had even offered to pay the remaining/balance amount before the expiry of the six-month period and the obvious import would be that the respondents had not complied with their obligation under the Agreement within the six-month period.
Post Categories
Featured Posts
Latest Posts
Latest Posts
Maternity Benefits Must Be Granted Even If Period Of Benefit Overshoots Term Of Contractual Employment: Supreme Court
The Supreme Court on Thursday(17 Aug) held that maternity benefits have to be granted even if the period of benefit overshoots the term of contractual employment. Maternity benefits can travel beyond the term of contractual employment. The court directed the ...
KnowTheLaw | Can NRIs Buy Agricultural Land in India?
🌾 No — NRIs are not allowed to purchase agricultural land, plantation property, or farmhouses in India, as per RBI guidelines. However, they can inherit or receive such land as a gift from a resident Indian. 📌 Important: Violating this ...
Supreme Court Sides With Madras HC: Person Forwarding Social Media Messages Liable For Contents
The Madras High Court had noted that Shekher was a person of high stature and had many followers. It stated that he should have exercised more caution when forwarding messages. The Supreme Court refused to entertain an appeal challenging Madras ...
Navigating the Complexities of Corporate & Commercial Laws: Key Considerations for Businesses
In today's dynamic business landscape, understanding and complying with corporate and commercial laws are paramount for organizations aiming to thrive and expand. From formation and governance to contractual relationships and regulatory compliance, adherence to legal frameworks is essential for maintaining ...
FEMA Regulations Simplified: A Guide for NRIs and Businesses
FEMA (Foreign Exchange Management Act) governs cross-border financial transactions in India. Whether you’re an NRI or a foreign company, understanding FEMA is crucial to ensure compliance. ✅ 🔑 Key Areas Covered by FEMA🔹 Investment: Rules for NRIs & foreign investors ...
AI, Data Protection, and Cyber crime: Navigating Through the Nexus
It was the dawn of the Digital Revolution in the latter half of 20th century that started to reshape the world. But with the advent of AI, data protection, and cybersecurity have become paramount concerns for individuals, businesses, and governments ...
Speak With Our
Get a Appointment