https://www.taxtmi.com/caselaws?id=460613 A commercial agreement for sale of immovable property that expressly fixed a one-year completion period and stated that time was of the essence was enforced according to its terms; the purchaser's failure to obtain the necessary clearance and complete within time defeated specific performance. Specific performance, being an equitable and discretionary remedy, also required full disclosure of material facts. The purchaser's failure to disclose that the earnest money had already been returned by cheque before suit was filed amounted to suppression of a material circumstance, which disentitled the purchaser to discretionary relief. The stated ratio is that an express time-essence clause in a commercial sale contract will be given effect, and suppression of material facts bars equitable relief. en-us Mon, 08 Aug 2011 00:00:00 +0530 Thu, 06 Feb 2025 17:50:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460613 A commercial agreement for sale of immovable property that expressly fixed a one-year completion period and stated that time was of the essence was enforced according to its terms; the purchaser's failure to obtain the necessary clearance and complete within time defeated specific performance. Specific performance, being an equitable and discretionary remedy, also required full disclosure of material facts. The purchaser's failure to disclose that the earnest money had already been returned by cheque before suit was filed amounted to suppression of a material circumstance, which disentitled the purchaser to discretionary relief. The stated ratio is that an express time-essence clause in a commercial sale contract will be given effect, and suppression of material facts bars equitable relief. Case-Laws Indian Laws Mon, 08 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460613