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<blockquote data-quote="Mars67" data-source="post: 865476" data-attributes="member: 13819"><p>It really depends on the wording of the contract of sale or in the case of an oral agreement the intention of the parties. The obtaining of finance could be made subject to a suspensive condition i.e the existence of a contract (or the enfoceability of the conditions of the contract) is suspended on condition that the buyer obtains finance in which case there is no contract yet or the more common and I think more generally accepted and expected situation where a binding contract is entered into with the resolutive condition that the contract will be resolved when the buyer is unable to obtain finance. In the case of the latter the seller will definitely be in breach of contract should he/she sell to someone else before the suspensive condition arises.</p></blockquote><p></p>
[QUOTE="Mars67, post: 865476, member: 13819"] It really depends on the wording of the contract of sale or in the case of an oral agreement the intention of the parties. The obtaining of finance could be made subject to a suspensive condition i.e the existence of a contract (or the enfoceability of the conditions of the contract) is suspended on condition that the buyer obtains finance in which case there is no contract yet or the more common and I think more generally accepted and expected situation where a binding contract is entered into with the resolutive condition that the contract will be resolved when the buyer is unable to obtain finance. In the case of the latter the seller will definitely be in breach of contract should he/she sell to someone else before the suspensive condition arises. [/QUOTE]
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