https://www.taxtmi.com/caselaws?id=184178 A transaction structured as an ostensible sale with a contemporaneous agreement to reconvey was treated as a mortgage by conditional sale because the arrangement secured money for ten years, the transferor remained in possession, and mutation did not occur. In contracts for sale of immovable property, time is ordinarily not of the essence, and no clear stipulation or conduct made it essential here. Readiness and willingness had to be judged from both parties' conduct: no adverse inference could be drawn against the plaintiff for non-production of a passbook not called for, while notice, telegram, and attendance at the Sub-Registrar's office supported the plaintiff's case and showed the defendant was in breach. en-us Mon, 28 Mar 1988 00:00:00 +0530 Fri, 01 Jul 2016 13:08:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184178 A transaction structured as an ostensible sale with a contemporaneous agreement to reconvey was treated as a mortgage by conditional sale because the arrangement secured money for ten years, the transferor remained in possession, and mutation did not occur. In contracts for sale of immovable property, time is ordinarily not of the essence, and no clear stipulation or conduct made it essential here. Readiness and willingness had to be judged from both parties' conduct: no adverse inference could be drawn against the plaintiff for non-production of a passbook not called for, while notice, telegram, and attendance at the Sub-Registrar's office supported the plaintiff's case and showed the defendant was in breach. Case-Laws Indian Laws Mon, 28 Mar 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184178