KUMARESAN Vs. M R SESHADRI

JUDGEMENT

(1.) ThedefendantinO.S.36/1996onthefileoftheSubordinateJudge's Court,Palakkadistheappellant. ThedefendantinO.S.36/1996onthefileoftheSubordinateJudge's Court,Palakkadistheappellant. .

(2.) Theplaintiff-respondentfiledthesuitforspecificperformanceof Ext.A1agreementdated7.4.1995enteredintobetweentheappellantand therespondentwherebytheappellantagreedtoselltheplaintschedule propertyofanextentof55.25centscomprisedinR.S.No.253/2Aof Puthupariyaramamsom,desomforaconsiderationofRs.1,75,000/-. AccordingtotherespondentRs.1lakhwaspaidoutoftheconsideration onthedateofexecutionofExt.A1andsubsequentlyRs.50,000/-waspaid on24.4.1995andthusRs.1,50,000/-outoftheconsiderationispaidand thoughtherespondentwasreadyandwillingtopaythebalanceamount andtogettheregisteredassignmentdeedexecutedbytheappellant,the appellantdidnotdosoinspiteofrepeateddemandsandExt.A2 registerednoticesentonbehalfoftherespondent.

(3.) TheappellantthoughadmittedtheexecutionofExt.A1agreementand receiptofRs.1,50,000/-fromtherespondent,hascontendedthatExt.A1 isexecutednotasanagreementforsaleofthepropertybutonlybeing securityfortheloantransactionbetweentheappellantandthe respondent.Accordingtotheappellant,heneverintendedtoenterinto acontractforsaleoftheplaintschedulepropertyandthepriceofthe plaintschedulepropertyonthedateofExt.A1wasmuchmorethanwhat isrecitedinExt.A1.Hehasalsocontendedthathehaspaidthe intereststipulatedontheloantransactionupto7.10.1995andashe defaultedtopaythesubsequentinterest,theabovesuitisfiledbythe respondent.