O.S. No. 242 of 2001, a suit for realization of an amount of Rs. 3,15,000/-with interest advanced by the plaintiff to the defendant pursuant to an agreement dated 20.8.1999, was dismissed by the Additional Subordinate Court, Thalassery by a judgment dated 20^th June, 2003. Challenging the said verdict, this appeal has been preferred by the plaintiff against the defendant/respondent.

2. For the sake of convenience, the parties to this appeal are referred to, as the plaintiff and the defendant, as arrayed in the suit before the trial court.

3. Brief facts necessary for the disposal of this appeal are as follows:

On 20.8.1999 the defendant agreed to sell her property for a total sale consideration of Rs.8,55,000/- to the plaintiff within a period of 4 ½ months from the date of agreement. On the date of the agreement plaintiff had advanced a sum of Rs.3,15,000/- to the defendant. Though, the plaintiff was ready with the balance sale consideration, on enquiry, it was learnt that the property was mortgaged with Kerala Financial Corporation ('KFC' for short) and some other Banks. So also, it was learnt that the the defendant had ag