https://www.taxtmi.com/caselaws?id=159324 The SC upheld forfeiture of Rs. 2,50,000 paid as earnest money by appellants who breached contract. The court found contract terms clearly established payment as earnest deposit, not part payment, giving respondents right to forfeit upon breach. Appellants failed to raise issues of unreasonable quantum or penalty nature of forfeiture, led no evidence, and admitted breach. Having abandoned plea that contract was voidable under s.19 Contract Act, appellants could not invoke s.64. Appeal dismissed with forfeiture upheld. en-us Tue, 28 Oct 1969 00:00:00 +0530 Mon, 05 May 2025 18:29:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=159324 The SC upheld forfeiture of Rs. 2,50,000 paid as earnest money by appellants who breached contract. The court found contract terms clearly established payment as earnest deposit, not part payment, giving respondents right to forfeit upon breach. Appellants failed to raise issues of unreasonable quantum or penalty nature of forfeiture, led no evidence, and admitted breach. Having abandoned plea that contract was voidable under s.19 Contract Act, appellants could not invoke s.64. Appeal dismissed with forfeiture upheld. Case-Laws Indian Laws Tue, 28 Oct 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=159324