MESSERS MISTRI PATEL & Co. AND ANOTHBR¬

contract forfeiture of earnest money

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Earnest money, forfeiture or recovery of Covenant for forfeiture of earnest money or deposit actually made or amount recoverable on failure to perform con¬tract Covered by expression "if the contract contains any other stipulation by way of penalty" Despite express stipulation in contract, Court, on equitable principles, can relieve defaulting buyer from forfeiture of earnest money if circumstances of case justify such a course Difference in English law between liquidated damages and penalty.

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Reference Info:n/a | Pakistan


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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