Validity of Property Sale Contract Pending Administrative Authorization
Synthèse Legislator
Généré par l'IAA contract for the sale of property was validly formed when the parties agreed on the thing and the price, even though certain administrative authorizations, necessary for the completion of the transfer of ownership, were not yet obtained, and the court upheld the lower court's finding that the seller's subsequent refusal to proceed with the sale constituted a breach of the commitment to sell, affirming that the prerequisite for the final transfer does not invalidate the initial consensual agreement for the sale itself.
Regeste Legislator
Généré par l'IAValidity of Property Sale Contract Pending Administrative Authorization: A contract for the sale of property was validly formed when the parties agreed on the thing and the price, even though certain administrative authorizations, necessary for the completion of the transfer of ownership, were not yet obtained, and the court upheld the lower court's finding that the seller's subsequent refusal to proceed with the sale constituted a breach of the commitment to sell, affirming that the prerequisite for the final transfer does not invalidate the initial consensual agreement for the sale itself.