Section 74 Indian Contract Act 1872

Earnest Money Forfeited, Part-Payment Refunded: Delhi High Court Draws the Line in a Failed Agreement to Sell

A buyer paid Rs. 17.5 lakh under an Agreement to Sell, then defaulted. The seller kept it all. The Delhi High Court had to work out how much of that money was truly earnest money — and how much was simply price paid too early.