https://www.taxtmi.com/caselaws?id=284013 Later cheques and a receipt were treated only as a payment accommodation for the purchaser's convenience and did not amount to novation or abandonment of the original sale contract, which therefore remained in force. Where the purchaser failed to complete the bargain, the stipulated earnest money was forfeited because earnest forms part of the price only if the transaction proceeds; once the purchaser defaults, it is not recoverable. Only the balance of any money paid beyond the forfeited earnest was refundable. en-us Tue, 01 Dec 1925 00:00:00 +0530 Wed, 23 Oct 2019 15:47:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284013 Later cheques and a receipt were treated only as a payment accommodation for the purchaser's convenience and did not amount to novation or abandonment of the original sale contract, which therefore remained in force. Where the purchaser failed to complete the bargain, the stipulated earnest money was forfeited because earnest forms part of the price only if the transaction proceeds; once the purchaser defaults, it is not recoverable. Only the balance of any money paid beyond the forfeited earnest was refundable. Case-Laws Indian Laws Tue, 01 Dec 1925 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284013