Economy, asked by mohammadshah782, 2 months ago

earnest money forfeited from a prospective buyer

Answers

Answered by pavanbairagi1997

0

Answer:

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Answered by jasmineasileti

1

Answer:

According to the court, the earnest money paid by a prospective purchaser of a property can be forfeited by the seller in case the buyer fails to pay the remaining sum as per the agreement. The Court ruled that earnest money is given to bind a contract. It can be forfeited in case of non-performance by the depositor.

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