History of Dharmashastra (Ancient and Mediaeval Religious and Civil Law in India) v4.c63.813.3

v4.c63.813.3

350 verse 4) provide that when a vendor having sold a thing to one man for a price received sells it to another or having concealed the defects of an article sells it as free from defects he should be made to return double the price to the purchaser and a fine equal to double the price to the king.⁸⁶⁵ The above rules apply where the purchaser has paid the price, but if there is a mere agreement and no price is paid, then the vendor or vendee is guilty of no wrong if he resiles from the bare agreement to sell or buy unless they have made an express stipulation that the agreement cannot be rescinded (Nār. XI. 10). When at the time of the agreement for sale, the vendee pays something by way of earnest, then if the sale goes off through the fault of the vendor, the latter has to return to the vendee double of the earnest;⁸⁶⁶ but if the purchaser does not finally take it he loses the thing and also the earnest. Nār. XII. 1 prescribes that when a vendee after having purchased a thing for a price repents of the purchase that is the title of law called 'rescission of purchase.' Nār. XII. 2 prescribes that if the purchaser thinks that he has made a bad bargain he may return the thing purchased to the vendor on the same day in an undamaged condition (and may receive back the price paid);