forfeiture of earnest money and cancellation of agreement for sale.

After examining the agreement to sale, opinion can be given. The reasons for failure of buyer need to be established. Whether the failue is due to  negligence, contributory negligence, supervening imposibility or supervening illegality etc. among other things.

dr vedula gopinath

arbitrator

email  vgnath@gmail.com

Both the parties are bound by the terms and conditions of agreement to sell.

Show the document to a local lawyer for better appreciation of facts and professional advise.

45 days time to perform contract was the condition and both the parties are abide by the said condition .Time is essence of contract and buyer failed to perform his part of contract in agreed time  so he is not. entitled to  file suit for specific performance of contract or claim property.

Since time is the essence of contract,the failure of the buyer for whatever reason,to complete the deal in the specified time will result in forfeiture of earnest money paid and contract will be null and void .The buyer is not legally entitled to file suit for specific performance by taking stand of reasons for his failure. Seller has nothing to defend .

Please consult a local capable Lawyer along with the copy of the agreement referred to in your query and be guided by him/her.

Thanks for advice but is there any settled law on this issue and any case laws,reported judgements?