Land Sale Contract Termination Due to Unfulfilled Condition Precedent
Synthèse Legislator
Généré par l'IAA contract for the sale of land, subject to a condition precedent that the purchaser obtain municipal authorization for the intended construction within a specified time, was deemed automatically terminated when the authorization was not secured within that period, as the condition precedent was unfulfilled, making the seller no longer obligated to convey the property and justifying the seller's subsequent refusal to sign the final deed, irrespective of whether the purchaser might have been able to obtain the authorization later.
Regeste Legislator
Généré par l'IALand Sale Contract Termination Due to Unfulfilled Condition Precedent: A contract for the sale of land, subject to a condition precedent that the purchaser obtain municipal authorization for the intended construction within a specified time, was deemed automatically terminated when the authorization was not secured within that period, as the condition precedent was unfulfilled, making the seller no longer obligated to convey the property and justifying the seller's subsequent refusal to sign the final deed, irrespective of whether the purchaser might have been able to obtain the authorization later.