query › Under what section of the Conveyancing and Law of Property Act may a vendor rescind if the purchaser defaults on closing?
Section 5 of the Conveyancing and Law of Property Act allows the vendor to rescind where the purchaser fails to complete on the agreed date, provided notice has been served and a reasonable time given to remedy the default.
Sources
- Conveyancing_and_Law_of_Property_Act.pdfpage 14
- Sample — internal precedent memopage 2