https://www.taxtmi.com/manuals?id=5783 A payment characterised as a deposit serves as security and is generally forfeitable on the buyer's default, whereas a part payment of price is an advance towards the purchase price and, unless the contract expressly provides otherwise, is repayable on rescission; the classification depends on contractual construction and parties' intention, and equity may relieve against unconscionable forfeiture or defeat of recovery by an inappropriate forfeiture clause. en-us Tue, 19 Nov 2024 13:27:00 +0530 Thu, 19 Jun 2025 17:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=5783 A payment characterised as a deposit serves as security and is generally forfeitable on the buyer's default, whereas a part payment of price is an advance towards the purchase price and, unless the contract expressly provides otherwise, is repayable on rescission; the classification depends on contractual construction and parties' intention, and equity may relieve against unconscionable forfeiture or defeat of recovery by an inappropriate forfeiture clause. Manuals Indian Laws Tue, 19 Nov 2024 13:27:00 +0530 https://www.taxtmi.com/manuals?id=5783