Buyer v. Seller: Breach of Unilateral Promise to Sell and Deposit Restitution
Synthèse Legislator
Généré par l'IAA party, having contracted to purchase land and paid a deposit, sought annulment of the sale and restitution of the deposit after the seller refused to proceed unless the buyer agreed to an increased price, with the lower court finding the refusal to be a breach of the unilateral promise to sell, thereby justifying the annulment and ordering the return of the deposit. The high court upheld this decision, reasoning that the unilateral promise, once accepted by the beneficiary, forms a bilateral contract, and the seller's subsequent refusal to execute the sale at the agreed price constitutes a fault justifying the contractual remedy sought by the buyer, including the recovery of the advance payment.
Regeste Legislator
Généré par l'IABuyer v. Seller: Breach of Unilateral Promise to Sell and Deposit Restitution: The high court upheld this decision, reasoning that the unilateral promise, once accepted by the beneficiary, forms a bilateral contract, and the seller's subsequent refusal to execute the sale at the agreed price constitutes a fault justifying the contractual remedy sought by the buyer, including the recovery of the advance payment.