Agreement to sell

kulwinder singh (Querist) 17 November 2012 This query is : Resolved
My query is regarding an agreement to sell contract. I entered into a contract in which I agreed to buy some property and gave seller a deposit. I was unable to keep agreement for lack of funds and did not attend Tehsildar office on said given date. Do I have any legal recourse? Thank you in advance.

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ajay sethi (Expert) 17 November 2012
it would depend upon terms of contract signed by you with the seller

Sailesh Kumar Shah (Expert) 17 November 2012
Now, all depends upon terms and conditions of agreement.
Now, It is advisable that request seller to cancel the agreement and if he is not agree then You have to take help of local lawyer for cancellation.

Adv.R.P.Chugh (Expert) 17 November 2012
Yes it indeed depends on the terms of the agreement entered into by you. You're not being able to collect the finances may be a breach of contract in terms of agreement, and may lead to forfeiture of a reasonable amount of earnest money. WHat is reas

V R SHROFF (Expert) 17 November 2012
Agrees with experts advice above..
It seems to be your fault.
So compromise is the best step.

Devajyoti Barman (Expert) 17 November 2012
Ask for cancellation of the agreement. If there is no forfeiture clause you may get return of the earnest money

prabhakar singh (Expert) 18 November 2012
The seller may forfeit your earnest money if incorporated in the agreement or may sue you for damages arising out to him from breach of contract on your part.

Raj Kumar Makkad (Expert) 18 November 2012
I do agree with the advice of Mr. Singh.

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