धारा 31

Where a contract is made with a person competent to transfer ownership in immovable property for the transfer of such property for a consideration, and it is agreed in the contract that such property or any other property dealt with by the contract shall be transferred, or that the contract shall be rescinded in case a specified event, or contingencies, happen, then the property, or as the case may be, the other property agreed upon in the contract, shall be transferred, or the contract shall be rescinded, according to the terms thereof, as far as such property or other property can be found, and as far as such event or contingency has happened, and the contract, by virtue of this section, shall have the same effect as if it had been a contract to transfer the said property or other property, or to rescind the contract, as the case may be.