Contract for Sale vs. Promise to Sell and Unilateral Revocation
Synthèse Legislator
Généré par l'IAA party contracted to sell a property, agreeing to transfer ownership upon the buyer's full payment, but later attempted to unilaterally revoke the sale, asserting that the agreement was a mere promise to sell, not a final sale. The Court of Cassation quashed the lower court's decision, reasoning that a contract for the sale of property containing an agreement to transfer ownership immediately upon full payment, even if payment is deferred, constitutes a definitive sale under civil law, and therefore, the vendor could not unilaterally withdraw from the already perfected contract simply by revoking the promise to sell.
Regeste Legislator
Généré par l'IAContract for Sale vs. Promise to Sell and Unilateral Revocation: The Court of Cassation quashed the lower court's decision, reasoning that a contract for the sale of property containing an agreement to transfer ownership immediately upon full payment, even if payment is deferred, constitutes a definitive sale under civil law, and therefore, the vendor could not unilaterally withdraw from the already perfected contract simply by revoking the promise to sell.