Free Essay

Agreement for Sale

In: Business and Management

Submitted By Saravananm
Words 769
Pages 4
Judgement:
The answering of above questions will get us the answer for the suit.
1. Section 16(c) of the Contract Act provides answer t this problem. It mandates that Person to aver in the plaint and establish the fact by evidence aliunde that he has always been ready and willing to perform his part of the contract. Distinction between “readiness” and “willingness” is that the former refers to financial capacity and the latter to the conduct of the person wanting performance . Person’s readiness and willingness, which is a condition precedent, must be in accordance with the terms of the agreement. In a suit for specific performance, person is to approach Court with clean hands. Right from the date of the execution till date of the decree he must prove that he is ready and has always been willing to perform his part of the contract.

2. Section 55 of Indian Contract Act,1872 provides answer to this problem. When a party to a contract promises to do a certain thing at or before a specified time, or certain thins at or before a specified time and fails to do such thing at or before a specified time, and fails to do such thing at or before a specified time, the contract or so much of it as has not been performed, becomes voidable at the option of the promisee, if the intention of the parties was that time should be of essence of the contract.

3. Section 53 of Indian Contract Act,1872 provides answer to this problem - When a contract contains reciprocal promises and one party to the contract prevents the other from performing his promise, the contract becomes voidable at the option of the party so prevented; and he is entitled to compensation from the other party for any loss which he may sustain in consequence of the non-performance of the contract.

4. Section 55 of Indian Contract Act,1872 provides answer to this problem. Effect of acceptance of performance at time other than agreed upon: If, in case of a contract voidable on account of the promisor's failure to perform his promise at the time agreed, the promisee accepts performance of such promise at any time other than agree, the promisee cannot claim compensation of any loss occasioned by the non-performance of the promise at the time agreed, unless, at the time of acceptance, he give notice to the promisor of his intention to do so.

5. Section 49 of Indian Registration Act,1908 provides answer to this problem. No document required by section 17 32[or by any provision of the Transfer of Property Act, 1882] to be registered shall-
(a) affect any immovable property comprised therein, or
(b) confer any power to adopt, or
(c) be received as evidence of any transaction affecting such property or conferring such power, unless it has been registered:
(provided that an unregistered document affecting immovable property and required by this Act or the Transfer of Property Act, 1882, to be registered may be received as evidence of a contract in a suit for specific performance under Chapter II of the Specific Relief Act, 1877, or as evidence of part performance of a contract for the purposes of section 53A of the Transfer of Property Act, 1882, or as evidence of any collateral transaction not required to be effected by registered instrument.)
6. It can be construed that there is fault in the part of Pursie for not adhering to the terms of contract. Also Sela has delayed in conveying his intentions when he has received the cheque. Indisputably, remedy for specific performance is an equitable remedy. . While balancing the equities, one of the considerations to be kept in view is as to who is the defaulting party. It is also to be borne in mind whether a party is trying to take undue advantage over the other as also the hardship that may be caused by directing for specific performance. There may be other circumstances on which parties may not have any control. The totality of the circumstances is required to be seen."The Court while granting relief for specific performance exercise discretionary jurisdiction”

Order
It is hereby directed that Sela should execute the Sale infavour of Pursie on receipt of full amount pertaining to proceeds of sale. Pursie is hereby directed to make the payment within the agreed time of 31.12.2013 and complete the sale. Also Pursie has to pay an additional interest on the pending amount of Rs. 8,20,000 @18p.a from 31.08.2013 to 31.12.2013…...

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