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The Bayana agreement is a legal document that can be acknowledged as legal proof in a court of law in the event of any dispute between the contracting parties because it is controlled by the Indian Contract Act, of 1872.

A contract whereby the seller transfers or agrees to transfer, the goods to the buyer for a price. A contract of sale may be absolute or conditional. A contract where the transfer of ownership is to take place at future date, or subject to some condition to be fulfilled later is called Agreement to sell.

The advance sum paid by the buyer to join into a sale agreement with the seller is known as bayana or money.

Similar to other agreements, the Bayana agreement is a document that acts as a blueprint for the sale of the property in the future. The document mentions the amount of money paid by the buyer to the seller. Once signed and the amount is paid, it prohibits the seller from looking for other buyers.

Bayana is a formal agreement written on stamp paper with related conditions set by both the buyer and the seller. It is usually paid one week after the money. Terms include the time frame for the property transfer and the payment of the remaining amount, which is often between 10 to 30 days but can be more.

What should a Agreement for Sale cover? The relevant personal details of the parties such as full name, residential addresses and ages of the parties to the agreement, Description of the goods/property to be sold by the seller, Method of delivering the goods and the time taken for the delivery of such goods/properties,