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Mst. JAIWANTI BAI vs AMIR CORPORATION S — 2021 PLD 434 SUPREME-COURT

Case information

Citation
2021 PLD 434 SUPREME-COURT
Court
Supreme Court of Pakistan
Year
2021
Reporter
PLD
Parties
Mst. JAIWANTI BAI vs AMIR CORPORATION S
Subject matter
Civil
Provisions referred to
S. 54---C; S. 37---I; Contract Act (IX of 1872)

Fields are extracted from the reported citation and judgment text. Where a detail is not stated in the record, it is not shown.

Judgment text as reported

Mst. JAIWANTI BAI VS AMIR CORPORATION S. 54---Contract Act (IX of 1872), S. 37---Immoveable property---Forward contracts---Forward transferee---Supreme Court observed that it was common usage and custom in real estate, construction and building contract that at, or before the execution of sublease, investors booked the apartments/shops in advance and sold, or transacted, forward sale multiple times, before the final sublease was executed; that traditionally, such type of transaction was evidenced by tripartite arrangement by and between the allottee, forward purchaser, and the builder; that in Pakistan, such contracts and arrangements were not regulated, therefore it was high time that the real estate business was regulated, to secure rights and interests of builders, allottees and forward transferees alike---Appeals were allowed with said observations.

Other judgments reported in 2021 PLD

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