2021 SCMR 686
Specific Relief Act (I of 1877)---
----S. 12--- Suit for specific performance of agreement to sell immoveable property-- Pre-requisites--- Payment of balance consideration in court--- Scope--- Person seeking the specific performance of a contract must first show that he was ready, able and willing to perform his obligations under the contract--- Although the law did not require that the balance sale consideration must be tendered or deposited in court, but such tender/deposit helped establish that the buyer was not at fault--- Supreme Court observed that invariably the value of money depreciated over time and that of land appreciated; that courts adjudicating such cases should not be unmindful of such reality and should endeavor to secure the interest of both parties; that in a suit for specific performance of land, if the seller/vendor had refused to receive the sale consideration, or any part thereof, it should be deposited in court and invested in some government protected security (such as Defence or National Savings Certificates); that in case the suit was decreed the seller would receive the value of money which prevailed at the time of the contract and in case the buyer lost he could similarly retrieve the deposited amount.
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