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2012 (11) TMI 874 - CALCUTTA HIGH COURTSale of shares - performance of an oral agreement - concluded contract - plaintiff/ appellants had prepared four pay orders for an aggregate sum of Rs. 4.11 crores in favour of the respondent no. 3 - plaintiff/ appellant as made out in the application for injunction was that the respondents nos. 1 and 2 expressed their inability to complete the transaction on that date and the meeting was deferred to a future date – Held that:- In appeal the High Court after appreciating the entire evidence on record found that an oral agreement for sale had actually taken place. Here also the principle of law re-stated that an oral agreement is as much legal and valid as a written agreement for sale has to be understood in the context that the existence of an oral agreement was proved clearly. But in this case it cannot be said that the plaintiff could establish the existence of a concluded contract on the basis of the materials filed so far. In a suit based on an oral contract for sale the burden is on the plaintiff to prove by cogent evidence that such agreement took place between the parties. The stage of evidence had not yet arrived in the suit and it is for the plaintiff to thrash it by adducing evidence to establish the existence of a concluded contract. It cannot be held that the plaintiff has been able to prove the existence of an oral contract between the parties or to make out a prima facie case for the grant of an interim injunction - Trial Judge has rightly dismissed the application
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