Vendor's Refusal to Cooperate Invalidates Contract Termination for Failed Suspensive Condition
Synthèse Legislator
Généré par l'IAA vendor sold real property to a purchaser under a notarized agreement stipulating that the sale would be finalized upon the fulfillment of a suspensive condition: the purchaser obtaining bank financing by a specified date; when the purchaser failed to secure the loan by the deadline, the vendor sought to have the sale rescinded and the deposit forfeited, arguing the condition precedent had lapsed, but the purchaser claimed the vendor had prevented the condition's fulfillment by refusing to provide necessary documents to the bank, leading the Court of Cassation to affirm the ruling that the condition could not be deemed unfulfilled because the vendor's fault prevented its timely completion, thus invalidating the vendor's claim to unilaterally terminate the contract and retain the deposit.
Regeste Legislator
Généré par l'IAVendor's Refusal to Cooperate Invalidates Contract Termination for Failed Suspensive Condition: A vendor sold real property to a purchaser under a notarized agreement stipulating that the sale would be finalized upon the fulfillment of a suspensive condition: the purchaser obtaining bank financing by a specified date; when the purchaser failed to secure the loan by the deadline, the vendor sought to have the sale rescinded and the deposit forfeited, arguing the condition precedent had lapsed, but the purchaser claimed the vendor had prevented the condition's fulfillment by refusing to provide necessary documents to the bank, leading the Court of Cassation to affirm the ruling that the condition could not be deemed unfulfilled because the vendor's fault prevented its timely completion, thus invalidating the vendor's claim to unilaterally terminate the contract and retain the deposit.