A agrees to sell a property to B for a total sale consideration of 165 rs. The sale was supposed to be completed in 1.5 years from the date of agreement. Out of the total sale consideration 50 rs was paid at the time of agreement. Another 50 rs was to be paid on the 10th month from the date of agreement. The balance amount of 65rs was to be paid and the sale deed executed on 1.5 th year from the date of agreement. Within 1.5 years A was also supposed to get his name mutated in to the necessary records.The sequence of events that happened after that are as follows.
1. B fails to pay 50rs at the 10th month.
2. A fails to get his name mutated in the records at 1.5th
year.
3. So on 1.5th year A and B mutually agree to extend the
date of executing the sale deed by another six months .
4. Even after the extended 6 months B still fails to make
the payment of 50rs and A still hasn't had his name
mutated into the records.
5. Now 24 months have passed since the date of
agreement and the new date fixed for the execution of
sale deed has expired. But on 25th month B tranfers
50rs into A's account via Rtgs. A endorses the payment
by withdrawing the whole amount from his account.
6. On 29th month B sents a notice to A to get the sale deed
executed. A sents a reply stating that since B has not
made his payments on time A is not ready to get the sale
deed executed. And A asks B to come and get the sale
agreement cancelled and to collect their cash to which
there was no reply.
7. On 37th month out of the blue B deposits the remaining
65rs in A's account via rtgs.
8. Now 40 months have passed since the date of
agreement and 16 months have passed since the last
date set for the execution of the sale deed has expired.
Even untill now A has not been able to get his name
mutated in to the records.
A few questions that I have is
1. Limitation period:- When does the limitation period start
to run ,
A)If A has endorsed the last payment of 65rs.
B)If A has not endorsed the last payment of 65rs.
C)Limitation period starts to run only when A has mutated his name into the
necessary records.
2. Can A renegotiate with B for a new sale consideration?
