Case Law Analysis
|Madras High Court
Specific Performance | Acceptance of Further Payment & Deposit of Balance in Court Negates 'Time is Essence' Clause : Madras HC
Madras High Court rules that when parties extend the agreement timeline by accepting further payments and depositing the balance in court, the 'time is essence' clause is waived. The court held that bank statements proving readiness and willingness, coupled with the deposit before filing the written statement, are decisive for specific performance.