- The Supreme Court noted that the Plaintiff's ongoing readiness and willingness is a prerequisite for granting the relief of Specific Performance.
- The court further stated that there is a difference between being ready and willing to fulfil one's obligations under a contract, and that both requirements must be met in order to obtain specific performance.
- The bench made up of Justices Indira Banerjee and Hrishikesh Roy said that ready refers to the Plaintiff's ability to perform the contract, which would include his financial situation, while willingness refers to the Plaintiff's behaviour.
- In this instance, the Trial Court granted the Plaintiff's request for the specific performance of a contract for the sale of the subject property. The Madras High Court rejected the defendant's appeal.
- The respondent plaintiff was required to prove continual "readiness and willingness" independent of any default by the original Defendant, according to the appellant-argument defendant's in an appeal to the Apex Court.
- Additionally, it was argued that before awarding the court's discretionary relief of particular performance, the court should take judicial notice of the sharp increase in real estate prices.
- On the other side, the Plaintiff argued that the initial Defendant had been delaying the execution of the sale deed and that he had always been prepared and willing to fulfil his obligation under the agreement.
- Referring to Section 16 of the Specific Relief Act of 1963 as it existed at the relevant time (prior to amendment with effect from 1.10.2018), the bench noted that the plaintiff would have to make specific statements in the plaint and adduce evidence to show availability of funds to make payment in accordance with the contract in time in order to allege and prove readiness and willingness to perform an obligation to pay money.
- The court noted that the current lawsuit had been brought just before the three-year statute of limitations had run out, and that this alone is a reason to deny the plaintiff the equitable remedy of specific performance for the purchase of real estate.
- The courts will also look down on lawsuits that are not filed right away following the breach or refusal.
- Because the statute of limitations is three years, a buyer cannot wait one or two years to bring a claim and get Specific Performance.
- The Court added that it may need to consider the "phenomenal surge in the price of real estate" in specific circumstances.
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