Respected Sirs,
I had entered into an agreement on a Rs 100 non-judicial stamp paper, to sell my immoveable property in Chennai. I had collected an amount under Earnest Money Deposit incorporating a forfeiture clause. A part balance of the sale value was also taken incorporating a performance clause with a 90 day period ending in May 2012. The cheque given by the buyer was dishonoured by the Bank twice for want of insufficient funds. I
gave a written notice to the buyer under the provisions of Sec 138. He has not paid the cheque amount.
I would like to terminate the Agreement to sell, In that connection, Please advise me,
1. whether I can give a notice, terminating the Agreement unilaterally, because the buyer has not honoured the date for sale registration and dishonour of cheque?
2. or whether the buyer has to agree to cancel the agreement?
3. can I, as a vendor, give a notice or should it be an advocate's notice?
3. what is the value of the non-judicial stamp paper on which the cancellation of sale agreement is to be written?
Thanking you,
Yours respectfully,
[TM Premkumar]
