MoU. In short, the MoU provided for
60 days time for the parties to complete performance of their respective
contractual obligations.
● After signing the MoU ... commits breach of contract leading to termination of the
contract, then forfeiture of advance as provided in Clause 11 of the MoU
gets enabled
MoU. In short, the MoU provided for
60 days time for the parties to complete performance of their respective
contractual obligations.
● After signing the MoU ... commits breach of contract leading to termination of the
contract, then forfeiture of advance as provided in Clause 11 of the MoU
gets enabled
each each of the
contract stood independent and did not depend on the terms and
conditions of the original contract / MOU.
23. That apart, there
debt is a fresh contract by itself and the earlier contract viz., the MOU dated
18.05.2006 (Ex.C1) is superseded by the promise ... Indian Contract Act gets attracted, it
amounts to a fresh contract which has superseded the earlier contract viz.,
the MOU dated
Time is specifically stated to be an essential term of the
contract. The MoU recites that the proposed sale is intended
to mobilise funds ... stipulated in the MoU as not an essential term of the
contract. The MoU was entered into on 11.05.2022, and the two months
period stipulated
contain anything contrary to the MOU. The applicant states that this MOU dated 03.07.2009 was a concluded contract between the parties, crystallizing all the rights ... agreement in furtherance to MOU is only a formality and on 03.07.2009 itself by MOU there was a concluded contract between the parties. The MOU
under the MoU dated 25.05.2010 (Ex.P2) as seen from
Clause (13) of the MoU dated 25.05.2010.
10. Subsequent to the MoU dated ... security deposit.
11. The plaintiff has terminated both the contracts, namely, MoU
dated 25.05.2010 (Ex.P2) and the Supplemental MoU dated
original MOU. A
mere perusal of the terms of this MOU clearly sets out that this MOU is
not a concluded contract between the parties ... specific performance based on a contract of sale. The contract of sale
contemplated the execution of regular contract of sale. The Division
Bench after referring
failed to
honour the MOU, and the MOU was not acted upon, and the plaintiff
himself wanted to rescind the MOU and requested the defendants ... that MOU has been rescinded
by the plaintiff himself and the MOU itself stood cancelled as per
Clause 19 of MOU, and no cause
Memorandum of Understanding [MOU] dated 24.03.2021'
[hereinafter 'primary contract and / or MOU' for the sake of convenience and
clarity] between the petitioner ... respondent.
4. Clause 11 of primary contract and / or MOU reads as follows:
'11. Both the parties agree with any disputes arising out this
