Format Of Token Money Agreement

(c) Payment details: Mention the mutually agreed counter-value and when it is due by the buyer to the seller. For example, 2 Lakh paid as token money, 10 Lakh on the date of the sales contract and balance 68 Lakh paid at the time of sale. Your serious money will be refunded if there is no clause containing this money. 2. In your case as the reason for the cancellation is the seller`s refusal to take money by check, it follows that there is no reluctance on your part to sell the agreement. As a result, you are entitled to a full refund. Serve the message of a lawyer to respect the agreement. A sales agreement must be applied like any other agreement. If the buyer commits a violation of the agreement and the terms of the agreement provide for the serious money; which is defined as a guarantee for the performance of the contract.

If there is a violation on the part of the seller, he must compensate the buyer on terms that are usually the same amount that is added to serious money. In some legal cases, such an amount was considered to be free of liquidation, a term used to describe the damages estimated in advance and, in the event of an infringement, a court would authorize the maximum damage or less than that in the event of an infringement. But in the case of Satish Batra v sudhir Rawal, Sc decided to forfeit the serious money in case of infringement. However, the partial payment, which is not serious money, must be returned to the buyer if he commits an injury. In your case, it seems that the seller is not willing to accept the payment of the cheque and therefore this is not a violation on your part. Write/inform the Seller that you are ready and willing to execute your part of the contract and contact the date set for registration with the negotiator. I have sent you a link from SC that clarifies most of your doubts, it is clearly established in this case that “it is also the law that the partial payment of the purchase price cannot expire unless it is a guarantee of good performance of the contract. In other words, if the payment is only made for the partial payment of the consideration and is not intended for serious money, then the expiry clause will not apply. (d) Timeline / Validity: Assuming you sign an agreement, please mention the validity of it. Also mention the payment schedule and other terms and conditions (if necessary) of the agreement.

In the case of my clients, who is a seller, the buyer does not register the property even after 3 years of signing the sales contract. The reason is that there is no such timetable in the sales contract to conclude the agreement. Your case is no clearer than the original question. Because the agent (Property Dealer) says that my personal proposal does not give much money in return, because you would put yourself in a greater risk.