Springboks Triumph Over All Blacks: A Well-Deserved Victory!
A hearty congratulations to the Springboks for their outstanding victory over the All Blacks in the recent game! It was an exhilarating match, and we’re proud of their performance. Well done, Amabokoboko!
When property sale contracts contain a suspensive condition which in essence states that the sale is subject to the buyer obtaining a mortgage loan from a bank to finance the deal, this condition is only fulfilled when the purchaser gets the required bank finance within the period stated in the contract. Despite the vague wording of some contracts, a court recently clarified the matter:
“Where a suspensive condition is worded that a mortgage bond be obtained in principle, the mere approval of such a bond is not sufficient. Only the actual acquisition thereof will cause the suspensive condition to be fulfilled. Where the approval received from a bank is subject to compliance with conditions, and these conditions are not fulfilled, the suspensive condition in the agreement is not fulfilled”
If you want to read the relevant case, please email me at email@example.com and we’ll send a copy to you.
Chris Fick & Associates Inc.