https://www.taxtmi.com/caselaws?id=197662 A bilateral agreement for sale linked to a lease was treated by the majority as creating mutual rights and obligations, not a mere privilege or option. The default clause cancelling resale rights on failure to pay instalments was enforced according to its terms, and acceptance of later overdue payments was held not to amount to waiver or revival of the agreement for resale. Because the stipulated payments were not completed by the contractual deadline, specific performance was refused. Mukherjea J. dissented, treating the default clause as penal, finding waiver from acceptance of overdue instalments and related conduct, and favouring relief against forfeiture and specific performance. en-us Fri, 20 May 1949 00:00:00 +0530 Thu, 11 Jan 2018 17:38:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197662 A bilateral agreement for sale linked to a lease was treated by the majority as creating mutual rights and obligations, not a mere privilege or option. The default clause cancelling resale rights on failure to pay instalments was enforced according to its terms, and acceptance of later overdue payments was held not to amount to waiver or revival of the agreement for resale. Because the stipulated payments were not completed by the contractual deadline, specific performance was refused. Mukherjea J. dissented, treating the default clause as penal, finding waiver from acceptance of overdue instalments and related conduct, and favouring relief against forfeiture and specific performance. Case-Laws Indian Laws Fri, 20 May 1949 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197662