Under the Indian Contracts Act, Section 2 (e) “Any promise and series of promises that constitute mutual consideration is an agreement.” I purchased stamp paper (Stamp Duty ESBTR) on July 27, 2018 and have just received an award letter (dated March 19) from MHADA – Maharashtra Housing and Area Development Authority, the retractor does not accept this stamp proof. You can guide me on how this stamp duty should be used or which ways extend its validity. You can use it to execute a new agreement or some other purpose for what you bought. If the agreement requires a stamp paper of a higher value, this stamp paper can also be used by adding another (new) stamp paper for the rest of the amount. But if you accidentally use a stamp of a lesser value, you will also be required to deposit the amount of the difference only, and if you deposit that amount within the prescribed time frame, such a stamp cannot be cancelled. 2. If he does not comply with the agreement, then you can sue him for a specific benefit in order to claim a refund of the amount. — Since you have made a written agreement with the seller, agreeing to pay the Rs.16 lake after three months if you give him ownership of your occupied home. So, at least from a notarized point of view, this agreement is for you. Like contract law in most countries, the Indian Contract Act of 1872 considers that all agreements that meet the essential requirements of free consent, legitimate consideration and lawful purpose are valid and applicable. It is important to note that even oral agreements, which constitute a wide range of contracts in India, are valid contracts under the law, provided they fulfill the essential elements of a contract. The Contracts Act does not make the stamp of agreements mandatory and does not consider that an unstamped agreement/contract is invalid and unenforceable.
Agreements therefore do not require a mandatory stamp to be considered legal and valid. Even if they are not stamped, they will still be enforceable to the parties who have signed the same thing. Choose the type of stamp duty under the description of the document as if you want to choose the loan of compensation, and also choose the number of e-Stamp paper you want. 1. It seems that you have reached an agreement to terminate the contract with him. This agreement must not be registered or written on stamp paper. It cannot be recorded and on a simple paper. In accordance with Section 54 of the Indian Stamp Act, if you do not have immediate use of stamp paper, you can deposit it with the collector within six months of the date of purchase and withdraw your money in refund after deduction of 10 paise per cane.