Token money and mou
Hi
I got a deal of buying a flat and signed a MOU with owner on revenue stamp that I will buy flat and have given token amount of 2lacs INR through cheque. My cheque was bounced due to sign mismatch as This account was opened long back and my sign changed a little over period of time.
Later I paid this amount through online transfer from my account to sellers account.
1. Does the MOU still valid as mode of payment mentioned there is changed.
2. Shall I get new MOU done?
If earlier MOU is still valid then:
3. In earlier MOU it was mentioned that owner's responsibility is to get seepage leakege and flooring issues fixed however he has not done yet , can I cancel the booking based on this?
4. In MOU there was a clause which states token money will be forefieted if I cancel the booking.
Based on other clause in MOU not obligated by owner(fixing issues), can this clause be considered invalid and can I get my token money back?
Its been almost 12 days since this MOU was done, pls suggest.