Agreement for sale of property

Contract is an agreement having a lawful object, entered into voluntarily by two or more parties each of whom intends to create one or more legal obligations between them

Basic requirements of valid and enforceable contract are offer, acceptance, exchange of consideration and mutuality of obligations

Fundamentally important ingredient of valid contract is that it should be between parties who are competent to contract

Intention of parties to a contract must be looked at to determine where a contract has come into existence

Essential elements for any sale transaction are (a) payment of sale price of property, movable or immovable, or promise to pay the same by buyer or seller, and (b) delivery of possession of property

In case such two essential terms of sale of immovable property can be determined on the basis of contents of agreement between parties with certainty, it may constitute a valid agreement of sale between parties which subject to discretion of Court can be directed to be specifically performed

Basic test for resolving whether parties reached consensus ad idem for concluding a contract is to ascertain whether parties had consensus on all material points at the time agreement was executed between parties.

Purpose stated.