Is there a termination clause in the above-mentioned agreement, which stated that the contract would be automatically terminated (and that the advance was cancelled) if the other party did not pay the balance within the four-month period set? 3. To terminate the contract, the person concerned must appear before the Registrar. You can only sell the land to another buyer after the contract has been terminated. In the event of the seller`s failure to sell or hand over the property to the buyer, the buyer obtains a right to certain services in accordance with the provisions of the Specific Relief Act 1963. A similar right is available to the seller under the contract to obtain a specific service from the buyer. The limitation period of the sales contract is 3 years if the agreement does not provide for a period under the statute of limitations. However, the parties may extend it at their discretion. The Supreme Court has also reaffirmed the importance of the sales contract between the contracting authority and the buyer, since it recently decided that the period of allocation of a housing unit to a buyer of a house must be taken into account from the date of the project-buyer contract and not from the date of registration of the project under the Real Estate (Regulation and Development) Act. 2016. The court also ordered the RERA authorities to order the payment of compensation by the contracting authority under the contract of sale, the sanctity of which was confirmed by that order. . acceptance of the applicant`s plea concerning the validity of the sales contract and the exercise of its discretion in favour of the applicant, by implementing such provisions. The Court of Procedure) was granted, the judgment and the decree under appeal were set aside and the applicant`s appeal for specific performance of the sales contract of 20.1.1994 was dismissed.
The complainant. 70,000/- per acre and per deed of sale were agreed for export on 31.12.1998. It was discouraged that the complainant r. 1.50.000 / – on the day of performance of the contract, rule 1.00.000 / – on 1.1.1995 and Rs. paid. A sales contract is a legal document that represents the conditions under which the sale of the property is made from the seller to the buyer. It also contains details of the consideration for which the property is sold. The agreement sets out all the essential conditions and a schedule for future payments that the buyer must make to the property….