A Sold His Car Worth Rs 20000 for Rs 5000 Due to Pressing Needs.can He Get Back His Car After Paying Rs 5000 O?
A sold his car worth Rs 20000 for rs 5000 due to pressing needs.Can he get back his car after paying Rs 5000 on the ground of inadequacy of consideration. Decide this case with reason in terms of law?
Answer:
No.
Tagged as:
Car Worth
{ 2 comments… read them below or add one }
Once the car is sold,the transaction is complete.As such there is no way the seller can compel the purchaser to reverse the transaction.On the other hand if the needy person had pledged or mortgaged the vehicle as security and obtained a loan from the other person,then he could have got back his car after fully repaying the lender all the dues under the loan including all accrued interest and other charges if any.
Have a Good Day.
No he cant. Its a deal for the one who brought it. Btw guessing from the prices it must be a Tata Nano.