Time Not of Essence in Standard Land Contract
The parties had exchanged contracts to complete on a day. The vendor requested a postponment and the buyer agreed. On the new day fixed, the title was still complete. The vendor now appealed against refusal of his request for an order for specific performance.
Held: The appeal succeeded. On a contract for the sale of land, the time originally set for completion is not, in equity, of the essence. Either party may however give notice to the other insisting on completion within a reasonable time.
Lord Romilly MR
(1852) 22 LJ Ch 170, [1852] EngR 535, (1852) 16 Beav 59, (1852) 51 ER 698
Commonlii
England and Wales
Citing:
Appeal from – Parkin v Thorold 2-Jun-1851
A purchase was to be completed on the 25th October. Before that, day arrived the purchaser, at the vendor’s request, extended the time to the 5th of November. The title, however was not completed on that day. Held, that the purchaser was at liberty . .
Lists of cited by and citing cases may be incomplete.
Contract, Land
Leading Case
Updated: 10 November 2021; Ref: scu.295658