We have given 4 cheques to one firm for the purchase Agriculture land. One cheque is already encashed, balance will be due in March-12,June-12,Sep-12. I have received receipts for the same. No other document is yet prepared.
We do not have any liability, on the contrary we have giving advance payments to developer. Sale deed will be happed afterwords. Presently only MOU (notarised) will be made between us.
Can we stop the payments of cheques if we don't want purchase the land? can we get our payment back of the cheque already encashed? Is the MOU legaly sufficinat document to protect our interest in future?
Regards,
Bhalchandra R
