Option Contract Deadline and Tacit Acceptance of Sale
Synthèse Legislator
Généré par l'IAA contract for the sale of real estate, stipulating a unilateral promise to sell with a fixed deadline for the exercise of the option, was not automatically terminated by the mere passage of that deadline when the seller, after the deadline, still intended to sell and subsequently accepted the price offered by the buyer who had decided to exercise the option; the court held that the stipulated deadline was not a forfeiture clause (clause de déchéance) rendering the promise void upon expiry, but merely an ordinary deadline that allowed the seller to withdraw the offer, and thus, the seller's continued acceptance of the price signified a tacit agreement to sell, validating the final contract.
Regeste Legislator
Généré par l'IAOption Contract Deadline and Tacit Acceptance of Sale: A contract for the sale of real estate, stipulating a unilateral promise to sell with a fixed deadline for the exercise of the option, was not automatically terminated by the mere passage of that deadline when the seller, after the deadline, still intended to sell and subsequently accepted the price offered by the buyer who had decided to exercise the option; the court held that the stipulated deadline was not a forfeiture clause (clause de déchéance) rendering the promise void upon expiry, but merely an ordinary deadline that allowed the seller to withdraw the offer, and thus, the seller's continued acceptance of the price signified a tacit agreement to sell, validating the final contract.