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Know the boundaries

By: Contributor(s): Language: English Series: Estates Gazette ; (0833) 23 August 2008, 69-70(2)Publication details: 2008Subject(s): Summary: Article discusses legal obstacles being faced by developers due to tough market conditions; in particular the complications that arise when buyers or developers decide to withdraw from conditional contracts for sale. Looks at conditions precedents (including conditions with reference to 'reasonable satisfaction') and also addresses obligations to discharge conditions and attempts to secure agreements in the courts.

Article discusses legal obstacles being faced by developers due to tough market conditions; in particular the complications that arise when buyers or developers decide to withdraw from conditional contracts for sale. Looks at conditions precedents (including conditions with reference to 'reasonable satisfaction') and also addresses obligations to discharge conditions and attempts to secure agreements in the courts.