Promise to Sell vs. Formal Deed of Acceptance

The case concerned a dispute arising from a promise to sell a property, where the promisor, having subsequently refused to proceed with the sale, argued that the obligation was extinguished because the intended purchaser had not executed a formal deed of acceptance within the stipulated time limit, even though the purchaser had expressed a clear intention to acquire the property. The highest court found that the obligation was not automatically extinguished because the lack of a formal deed of acceptance did not negate the purchaser's established willingness to complete the purchase, thereby quashing the lower court's decision that had ruled in favor of the promisor based solely on the formality's omission.