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Showing posts with label forfeiture of earnest money. Show all posts
Showing posts with label forfeiture of earnest money. Show all posts
Sunday, 4 May 2025

Supreme Court: Under which circumstances the court can allow amendment of plaint during execution of decree and at appellate stage?

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  Before we proceed to answer the question formulated by us in para 27, we  deem it necessary to examine Section 22 of the 1963 Act. It read...

Supreme Court : The court should not grant refund of advance amount in suit for specific performance of contract if it is not prayed specifically during the continuance of proceeding

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 In our considered opinion, the law contained under Section 22(2) of the  1963 Act is adequately broad and flexible to allow the appellant t...

Supreme court: Forfeiture Of 'Earnest Money' Is Not Penal In Ordinary Sense So As To Apply Section 74 Contract Act

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On a conspectus of the aforementioned authorities, it is evident that a  clause for the forfeiture of earnest money is not penal in the ordi...
Tuesday, 25 February 2025

Supreme Court: S. 74 Contract Act | Forfeiture Of Earnest Money Permissible If It's Not Excessive Amounting To Penalty

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 It can be seen that this Court has held that if the forfeiture of earnest money under a contract is reasonable, then it does not fall withi...
Monday, 23 May 2022

Can the arbitrator allow forfeiture of the substantial amount of consideration without proof of actual loss, considering it to be Earnest Money?

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As noted above, in the present case, the respondent has neither pleaded nor established that it had suffered any loss. The respondent’s case...
Tuesday, 24 December 2019

Whether seller can forfeit earnest amount on breach of contract without pleading and proving loss?

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In view of the above and having regard to the fact that a huge amount has been paid under the Agreement to Sell, it cannot be treated as e...
Tuesday, 29 May 2018

Whether earnest money can be forfeited even if there is no forfeiture clause in contract?

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 Reading of Section 74 would go to show that in order to forfeit the sum deposited by the contracting party as "earnest money" o...
Sunday, 30 August 2015

Whether one party can forfeit earnest amount even though no loss is suffered by it due to default of other party to contract?

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Even otherwise, it is not case of the Bank that it has suffered damages on account of the non-deposit of the  balance of the bid amount by ...
Sunday, 13 July 2014

When earnest money can be forfeited?

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   Law is, therefore, clear that to justify  the  forfeiture  of  advance money being part of ‘earnest money’ the terms  of  the  contr...