Vendor v. Buyer: Rescission of Sale Conditional Upon Financing
France (FR)
Synthèse Legislator
Généré par l'IAA vendor, having agreed to sell a property, initiated a lawsuit against the prospective buyer seeking rescission of the sale and recovery of the deposit after the buyer failed to obtain the necessary loan authorization within the stipulated timeframe, despite the contract making the sale conditional upon this financing. The court dismissed the appeal, reasoning that the stipulation making the sale conditional upon obtaining financing was stipulated solely in the interest of the buyer, and thus, the buyer could validly waive this condition, rendering the contract immediately enforceable and justifying the vendor's claim for rescission due to the buyer's failure to proceed with the purchase.
Regeste Legislator
Généré par l'IAVendor v. Buyer: Rescission of Sale Conditional Upon Financing: The court dismissed the appeal, reasoning that the stipulation making the sale conditional upon obtaining financing was stipulated solely in the interest of the buyer, and thus, the buyer could validly waive this condition, rendering the contract immediately enforceable and justifying the vendor's claim for rescission due to the buyer's failure to proceed with the purchase.