https://www.taxtmi.com/caselaws?id=168440 Earnest money may be forfeited only where repudiation, abandonment, or another proved contractual basis for forfeiture is established; mere failure to obtain specific performance or absence of readiness and willingness is insufficient. On the facts, the seller had not pleaded or proved a forfeiture term, no issue or evidence supported treating the payment as forfeitable earnest, and Section 55(6) of the Transfer of Property Act, 1882 did not by itself justify retention. The buyer's deposit therefore had to be refunded, and the decree directing refund with interest in default was affirmed. en-us Fri, 23 Dec 1977 00:00:00 +0530 Mon, 02 Mar 2015 15:32:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=168440 Earnest money may be forfeited only where repudiation, abandonment, or another proved contractual basis for forfeiture is established; mere failure to obtain specific performance or absence of readiness and willingness is insufficient. On the facts, the seller had not pleaded or proved a forfeiture term, no issue or evidence supported treating the payment as forfeitable earnest, and Section 55(6) of the Transfer of Property Act, 1882 did not by itself justify retention. The buyer's deposit therefore had to be refunded, and the decree directing refund with interest in default was affirmed. Case-Laws Indian Laws Fri, 23 Dec 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=168440