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Ash
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Category: Law
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Receipt dated--- was issued, the highlights of which wereMrs

Customer Question

Receipt dated--- was issued, the highlights of which were
Mrs x received a sum of--from--in consideration for sale of plot no-- bearing revenue no--.
The total value of the said plot is ----- out of which i received a sum of ------subject to encashment of cheque/draft towards part consideration for the sale of the said plot. The balance consideration amount of ---shall be paid within two months of the date of the receipt.
PLEASE ADVISE
---whether the receipt as stated above amounts to a concluded contract?? thus bringing in legal obligations on part of both parties to honor the contract.If yes please advise the argument for the same and if possible as supported by legal precedents/cases.
---- If the receipt is not a contract please please advise the argument for the same and if possible as supported by legal precedents/cases.
--- Please also advise what does the term encashment of the check mean ie does it imply realization???If yes please advise the argument for the same and if possible as supported by legal precedents/cases.
Submitted: 2 years ago.
Category: Law
Expert:  Nicola-mod replied 2 years ago.
Hello,
I am a moderator for this topic. Please could you let me know which country this question pertains to?
Thank you,
Nicola
Customer: replied 2 years ago.

Hi

This question pertains to India. But under the Law of Contract, the law in India is framed as per the ENGLISH LAW .

Therefore you can adopt the principals of English Law to respond to this question.

Regards

Rajan

Expert:  Nicola-mod replied 2 years ago.
Hello,
We will continue to look for a Professional to assist you.
Thank you for your patience,
Nicola
Expert:  Ash replied 2 years ago.
Hello my name is ***** ***** I will help you with this.
Were contracts exchanged for the land please?
Alex
Customer: replied 2 years ago.

The only document exchanged was the receipt. Please also note that that there was a an ad placed in the newspaper inviting any objections, to the sale of land.

The party claims that the receipt is deemed to substitute the contract as there is an offer an acceptance and consideration price agreed.

Please also advise does the term check subject to encashment holds any legal implication.

Regards

Expert:  Ash replied 2 years ago.
Its bad news I am afraid. Assuming the process is the same as it is in the UK - an offer on land an acceptance does not mean anything.
Either party can pull out at any point up until contracts are exchanged,. This happens a lot sadly.
So until contracts are signed and exchanged either side can stop the deal.
I am sorry if this is not the answer you want and certainly not the one I want to give you, but I have a duty to be honest.
Can I clarify anything for you about this today please?
Alex
Customer: replied 2 years ago.

I believe you misinterpreted the question wrongly. The question is whether the receipt can be treated as a contract being signed by both parties.

The English law is very clear and says that the court must interpret the document based on what is written and the underlying intention of the parties.

do advise.

thanks

Expert:  Ash replied 2 years ago.
Can a receipt be considered a contract.
Yes
Does that clarify?
Alex
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience: Solicitor with 5+ years experience
Ash and other Law Specialists are ready to help you
Customer: replied 2 years ago.

hi

you did not respond to the term encashment

See question

Please also advise what does the term encashment of the check mean ie does it imply realization???If yes please advise the argument for the same and if possible as supported by legal precedents/cases.

thanks

Expert:  Ash replied 2 years ago.
This is a question and answer sire and sadly not intened for legal research,
Alex

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