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mgrao (partner)     28 March 2012

Cancellation of sale agreement

An agreement on Rs 100 stamp paper was entered into to sell real estate property in February 2012 with a period of three months to complete the sale.The Seller now recognises that he was cheated into a very low price and hence wants to come out of the sale agreement.How can it be done?



Learning

 1 Replies

Adv.R.P.Chugh (Advocate/Legal Consultant (rpchughadvocatesupremecourt@hotmail.com))     28 March 2012

Dear Querist,

If the consent to the agreement was obtained by means of i) Undue influence (Mental Domination to obtain unfair advantage) ii) Misrepresentation, iii) Coercion or iv) Fraud - then you would be within your right to rescind/cancel/terminate/avoid the contract, by serving him a legal notice, followed by a suit for recission if required. Though you'd have to make good any amounts/benefits already recieved. 


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