MANCHALAL Vs. SHAH MANIKCHAND

JUDGEMENT

(1.) This is a defendants' appeal.

(2.) Respondents plaintiffs filed O.S. No. 157/74 on the file of the Principal Civil Judge, Bangalore City, claiming a decree in a sum of Rs. 31,500/- made up as follows :

(3.) The substantial facts are not in dispute. The defendants are the owners of the property mentioned in the schedule. An agreement of sale was entered into between the plaintiffs and the defendants on 8-10-1973 as per Exhibit P-7. On 17-9-1973 the plaintiffs had paid Rs. 24,000/- by cheque on Karnataka Bank and Rs. 1,000/- in cash to the defendants as part of the consideration. As per the terms of Exhibit P-7, the sale transaction was to be completed within two months from 18-10-1973. The remaining two terms, which are in dispute, are that in case the plaintiffs failed to perform their part of the contract, the amount of advance was to be forfeited. In case, the defendants failed to perform their part of the contract, they had to refund Rs. 25,000/- and also to pay damages of Rs. 25,000/-.