KORAGAPPA MOOLYA Vs. PRESCILLA

JUDGEMENT

(1.) WITH the consent by the parties, the appeal is heard on merits.

(2.) THE appellants filed this appeal challenging the judgment and decree passed by the Senior Civil Judge and A.C.J.M., Karkala, dated 06.11.2012, passed in O.S.No.3/2011, wherein the trial court by rejecting the relief of specific performance of contract prayed by the appellant, has granted the money decree by directing the respondent to pay a sum of Rs.2,50,000/ - with interest at the rate of 14% per annum together with cost.

(3.) ACCORDING to the plaint averments, the plaintiffs have entered into an agreement with the defendant on 26.08.2009 agreeing to purchase the suit schedule property for a sum of Rs.17,00,000/ -. According to him, a sum of Rs.50,000/ - was paid in cash on 27.07.2009, and a sum of Rs.2,00,000/ - was transferred to the S.B. account of the defendant. Thus, in all Rs.2,50,000/ - was paid in advance. The balance consideration of Rs.14,50,000/ - was to be paid at the time of registration of sale deed and the entire transaction shall be completed within six months from the date of agreement.