Legal terms.
shyam lal
(Querist) 27 July 2021
This query is : Resolved
Legally speaking, to give a notice in writing of intentions to sell,does it amount to getting permission to sell,or literary means two separate terms.
K Rajasekharan
(Expert) 27 July 2021
The phrase “to give a notice in writing of intention to sell” legally means informing the other one about one’s intention to sell, alone. It is a process of informing alone. It is not equivalent to getting permission from the other.
But the other one can act upon the process of selling if he has any interest in the property.
If the other person keeps silence after the receipt of notice till the end of its validity, his silence is equivalent to his deemed permission, as well.
Dr J C Vashista
(Expert) 28 July 2021
Issuance of legal notice tantamount to intimate intention of person issuing notice but not to seek permission of addressee.
T. Kalaiselvan, Advocate
(Expert) 25 August 2021
Execution of valid contracts is a prerequisite to creation of any legally binding rights and obligations among the executing parties. However, before moving on to detailed definitive contract(s), parties often enter into a letter of intent so as to agree and specify upfront the key terms of the proposed transaction. The idea is to identify and address any major commercial issues between the parties, and at the same time demonstrate their commitment to the transaction.
It is a well settled legal position under Indian laws that an agreement to 'enter into an agreement' is neither enforceable nor does it confer any rights upon the parties. It is also a well settled principle of law that a letter of intent generally indicates a party's intention to enter into a contract with the other party in future. A letter of intent is not intended to bind either party ultimately to enter into any contract. Such non-binding letter of intent can however also take a hybrid form where parties agree to be bound by certain identified provisions such as confidentiality; exclusivity; costs/expenses; governing law/jurisdiction etc.
