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Showing posts with label Refundable. Show all posts
Showing posts with label Refundable. Show all posts

Thursday, 1 April 2021

In the absence of completely formulated contract, earnest money is refundable.

In the Matter of  Commr of HR & CE Deptt v. S. Muthekrishnan AIR 2012 Mad 43, The Madras High Court observed that if the contract is not completely formulated between the parties but the earnest money is paid, the other party is not entitled to forfeit the amount and it stands refundable.