I have signed an MOU for Sale of my property on 17th Sep. As part of the MOU, the customer was to pay 1lac while making the MOU, which he paid by cheque, and @ 20 lacs by 22nd Sep and balance after 45 days of submitting the NOC.
Now the customer is not paying the 20 lacs that was due on 22nd Sep.
In such case can I annul the agreement by sending a lawyer notice that since the customer is not paid, I am cancelling the deal and send back the 1 lac cheque which he has given. Inciddentally I did not deposit the 1 lac cheque customer gave.
