Sir, My father has entered into a agreement to sell for his property thr. property dealer and get 10% as biana. His age is +65 years. We both i.e. both son has signed as witness in that agreement.
As per agreement, buyer take 3 month time to execute the agreement and to pay the balance 90% sale amount but when we ask for part payment, He told that he will execute the agreement after 2 month and make payment before that. Just for precaution, he is taking 1 month extra time.But the whole conversation was Orally and not in writing for part payment. But he fails to make part payment and told us that after 15 days, he will be able to make part payment which is also not sure.
Is it a ground of default for buyer side and can we cancel the agreement on such oral discussion?
Now, my father don't want to execute the agreement i.e. don't want to sell. As per agreement, if he broke the same, he would be liable to pay double of biana amount to the party. We don't have capacity to pay double. We can only refund the received sum as biana with normal bank interest.
What shall we do?
Can court order us to pay double biana or force to execute the agreement?
Can we file petition in court for cancellation of the above agreement of sale?
Can we file FIR against the buyer if he threaten us to execute the agreement or force illegally to make double payment?
Can any police action be taken by the buyer against us?
Kindly advice us at the earliest.
