Readiness and willingness in specific performance failed where the buyer could not show financial capacity or timely compliance with the contract.

The SC held that, although the agreement's four-month payment stipulation was qualified by the clause requiring vacant possession after eviction of tenants and could not be treated as absolute on a reading of the contract as a whole, a decree for specific performance still depended on strict proof of continuous readiness and willingness. The buyer failed that test by not showing financial capacity, not complying with repeated opportunities to complete the transaction, advancing unsupported demands outside the agreement, and retaining the returned demand draft until its last day of validity. On those facts, the equitable relief of specific performance was not justified and the first appellate court's grant of relief was unsustainable.

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Issues: Whether the buyer was ready and willing to perform the contract and was entitled to the discretionary relief of specific performance despite the contractual time stipulation.

Analysis: The agreement contained a stipulation that the balance consideration was to be paid within four months and also a clause requiring vacant possession after eviction of tenants. Reading the document as a whole, the latter clause qualified the former, and the time stipulation could not be treated as absolute in the circumstances. Even so, a suit for specific performance required strict proof of continuous readiness and willingness. The buyer failed to demonstrate financial capacity, did not comply with repeated opportunities to complete the transaction, raised unsupported demands not found in the agreement, and retained the returned demand draft until the last day of its validity. These circumstances cumulatively negatived readiness and willingness and weighed against the grant of an equitable decree.

Conclusion: The buyer was not entitled to specific performance, and the grant of such relief by the first appellate court was unsustainable.

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