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Payment made against agreement to sell is an enforceable debt under Negotiable Instrument Act: SC

March 30, 2019[2019] 104 272 (SC)

FEMA, BANKING & INSURANCE : An agreement to sell does not create any interest in immovable property, it nonetheless constitutes a legally enforceable contract between parties to it, thus, payment made in pursuance to such an agreement is a payment made in pursuance of a duly enforceable debt or liability for purpose of section 138

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