Earnest Money in Real Estate Deals: The Shifting Courts' Perspective
Before the Indian Contract Act, 1872, there was the rule of local mercantile usage, customary practice, and English common law ideas that prevailed in commercial dealings. Oral promises, written undertakings, or immediate exchange of goods and considerations were commonly practiced when concluding deals Future performance had no place in ancient barter societies because transactions were done through the immediate exchange of goods...
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