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Procedure for cancellation of MOU done for property
29-Nov-2023 (In Documentation Law)
if koi {MOU} par deal kar deta hai kisi properti par aur use deal cancel karna hai to kya karna padega buyer ne advances 50 k diya hai ab oh 1 lakh ka demand kar raha hai fir hum kya kare.. i m hindu
Mou is not a legal document, it is an understanding reached on certain terms and condition to enter into an agreement.However the MOU is an evidence to show that parties were intended to get into a deal and follwing an agreement. In your case, You can cancel the MOU as per the Termination Clause mentioned therein, return the part consideration which is the essence of the Contract. You are not liable to pay the excessive amount which the other party demand subject to verifying your MOU Termination Clause.
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Adv. Ashish Kachave
Pune | 25+ Answers
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Is that MOU registered ..? What kind of deal it was..? what was the mode of payment - Cash/ Cheque/ DD/ Wire transfer...? For what he demanding 1 Lakh..? is this outstanding amount or what..? require more input to answer the query.
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Adv. Sharad Malode
Pune | 100+ Answers
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