Property
3 years ago
We thought to buy flat of 84 lac and we 1.5 lac give to builder as token amount and now due to corona we don't want to buy flat as situation is worst now these days according to norms 2% of sale value is to be cut if we cancel flat but these norms are before corona what about today...
A.Dear Sir,
Better cancel the contract and be safe. You claim return of your advance token amount on the following principle.
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Force Majeure Clauses In Contracts
The advent of civilization in human life gave birth to various forms of interactions amongst the individuals. Numerous aspirations have led to passion for monetary superiority and the art of profit making thereby giving rise to business activities. People carry out their business with one another in the form of sale and purchase which may be either for goods or services. In order to maintain cordial relations amongst themselves and ensuring smooth functioning of their business, parties often enter into contracts which bind them on agreed mutual terms and conditions.
Composition of Contracts
The contracts between the parties comprise of various clauses which regulate their responsibilities and conduct for the situations which they can anticipate. However, there arise circumstances which make the performance of the contract impossible. In case such supervening events arise for any reasons being beyond the control of a party, such party may be exempted from performing its due obligations while the contract stands frustrated.
Frustration of Contract
As per Section 56 of the Indian Contract Act, 1872, an agreement to do an impossible act is described as being void. The said provision also relieves a party from the discharge of their duties in event of an intervening act which renders the performance of the contract impossible or unlawful.
Better cancel the contract and be safe. You claim return of your advance token amount on the following principle.
====================================================
Force Majeure Clauses In Contracts
The advent of civilization in human life gave birth to various forms of interactions amongst the individuals. Numerous aspirations have led to passion for monetary superiority and the art of profit making thereby giving rise to business activities. People carry out their business with one another in the form of sale and purchase which may be either for goods or services. In order to maintain cordial relations amongst themselves and ensuring smooth functioning of their business, parties often enter into contracts which bind them on agreed mutual terms and conditions.
Composition of Contracts
The contracts between the parties comprise of various clauses which regulate their responsibilities and conduct for the situations which they can anticipate. However, there arise circumstances which make the performance of the contract impossible. In case such supervening events arise for any reasons being beyond the control of a party, such party may be exempted from performing its due obligations while the contract stands frustrated.
Frustration of Contract
As per Section 56 of the Indian Contract Act, 1872, an agreement to do an impossible act is described as being void. The said provision also relieves a party from the discharge of their duties in event of an intervening act which renders the performance of the contract impossible or unlawful.
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Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.Hi Raj,
you have all the right to cancel and seek a refund. Failing to which, please issue a legal notice.
you have all the right to cancel and seek a refund. Failing to which, please issue a legal notice.
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A.You may request the builder not to charge any cancellation amount citing the COVID-19 scenario and hopefully on the basis of humanitarian ground he should listen to you and oblige. The current situation can be categorised as force majeure, if a clause like that is included in the agreement to sale and you can take benefit of that.
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