FIRST LAW

The Code of Criminal Procedure, 1973 - Section 482 - The Negotiable Instruments Act, 1881 - Section 138 - Cheques were issued under and in pursuance of the agreement to sell. Though it is well settled that an agreement to sell does not create any interest in immoveable property, it nonetheless constitutes a legally enforceable contract between the parties to it. A payment which is made in pursuance of such an agreement is hence a payment made in pursuance of a duly enforceable debt or liablity for the purposes of Section 138.