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Judgment Search Results Home > Cases Phrase: patents Court: andhra pradesh Year: 1964 Page 3 of about 21 results (0.038 seconds)

Jan 21 1964 (HC)

Duddu Koteswara Rao Vs. Motumarru Sambiah and ors.

Court : Andhra Pradesh

Decided on : Jan-21-1964

Reported in : AIR1966AP252

chandra reddy, c.j. 1. the proper interpretation of exs a. 1 and b. 1 is the subject matter of this appeal. the question that poses for consideration is whether the transaction evidenced by these two documents is a mortgage by conditional sale or an outright purchase. 2. the property in dispute is a house site and terraced rooms situate therein. the agreement to sell this property appears to have been entered into on 16-7-1923 for a sum of rupees 8,400 and the whole of the consideration paid at about the time; but the document of sale was not executed fill 2-8-1925, on the same day, the transferees executed an instrument agreeing to reconvey the property if the sum of rupees 8,400 paid to the transferor was repaid to him with interest at 1 per cent per mensem. under this document the option to repurchase was to be exercised between 2-2-1926 and 30-7-1927. the transferor did not avail himself of this right within the stipulated period. nothing was done by him in this behalf till 7-2-1950 when he called upon the transferees to retransfer the property to him on receipt of such amounts as might be found due on taking of accounts. the transferees refused to comply with this demand and sold the property in their turn on 12-7-1950 for a sum of rs. 20,000 to a firm of which chebrolu audinarayana, chebrolu chenchu subbiah, vura venkateswarlu and kurapati raghavulu, were the partners. notwithstanding this, no action was taken by him till 29-1-1953 when the present action was initiated .....

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