Respected Sirs,
I have a question , I had agreed to sell a plot of land last year and taken a deposit of 20% for it , I had been waiting for the plot to be registered in my name since there were some legal issues as it was an inherited property . all these have now been resolved and the plot has been registered in my name . however , since then the price of the plot has doubled .
my question is , am i legally bound to sell the plot at the price agreed one year ago ? I have signed a recipt for the deposit taken and also a document stating that i agree to sell the land at x price / sq yd in 2010 . but it doesnt state anywhere on the document that i am legally bound by that price and if price escalates then we can not re negotiate terms.
looking forward to your help
Best Regards
