Mon. Nov 23rd, 2020

Kamal Jeet vs Sneh Lata Chaturvedi (Deceased … on 11 May, 2018

1 min read

“e) If the prospective purchaser fail to fulfill the above condition.
The transaction shall stand cancelled and earnest money will be
forfeited. In case I fail to complete the transaction as stipulated
above. The purchaser will get the DOUBLE amount of the earnest
money. In the both condition, DEALER will get 4% Commission
from the faulting party.”
The clause, therefore, stipulates that if the purchaser fails to fulfill the
conditions mentioned in the agreement, the transaction shall stand
cancelled and earnest money will be forfeited. On the other hand, if the
seller fails to complete the transaction, the purchaser would get double
the amount of earnest money. Undisputedly the purchaser failed to
perform his part of the contract, then the question is whether the seller
can forfeit the entire earnest money.

Source: Indian Kanoon

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