Automatic Termination of Land Sale Contract Upon Failure to Meet Condition Precedent
Synthèse Legislator
Généré par l'IAA contract for the sale of land, subject to the condition precedent that the buyer obtain municipal authorization for the intended construction within a specified period, was deemed to have been automatically terminated when the buyer failed to secure the necessary authorization by the deadline, even though the seller had initiated proceedings to force the sale before the deadline passed; the court reasoned that the automatic nature of the resolutory condition, stipulated in the agreement, meant that the contract became void immediately upon the condition's non-fulfillment at the appointed time, irrespective of any prior judicial action taken by the seller.
Regeste Legislator
Généré par l'IAAutomatic Termination of Land Sale Contract Upon Failure to Meet Condition Precedent: A contract for the sale of land, subject to the condition precedent that the buyer obtain municipal authorization for the intended construction within a specified period, was deemed to have been automatically terminated when the buyer failed to secure the necessary authorization by the deadline, even though the seller had initiated proceedings to force the sale before the deadline passed; the court reasoned that the automatic nature of the resolutory condition, stipulated in the agreement, meant that the contract became void immediately upon the condition's non-fulfillment at the appointed time, irrespective of any prior judicial action taken by the seller.