Land Sale Contract Termination Due to Unfulfilled Building Permit Condition
Synthèse Legislator
Généré par l'IAA contract for the sale of land, entered into under the condition subsequent that the buyer would obtain the necessary building permits within a specified timeframe, was properly considered as terminated when the buyer failed to secure those permits by the stipulated deadline, as the court reasoned that the unfulfilled suspensive condition, once lapsed, definitively severed the legal bond between the parties, confirming the validity of the rescission.
Regeste Legislator
Généré par l'IALand Sale Contract Termination Due to Unfulfilled Building Permit Condition: A contract for the sale of land, entered into under the condition subsequent that the buyer would obtain the necessary building permits within a specified timeframe, was properly considered as terminated when the buyer failed to secure those permits by the stipulated deadline, as the court reasoned that the unfulfilled suspensive condition, once lapsed, definitively severed the legal bond between the parties, confirming the validity of the rescission.