Waiving the Bond Clause to Keep a Sale Alive: Risk Versus Reward
KVV Inc AttorneysPublished on: 04/03/2025
A buyer's offer to pay cash for a property after a bond clause deadline expired did not constitute a valid waiver of the clause, the Supreme Court of Appeal ruled. The sale agreement lapsed, entitling the buyer to a full refund of their deposit. The seller failed to prove the buyer's clear intent to waive their rights, as required by law and the agreement's terms.
KVVProperty LawConveyancing Bond ClauseProperty Sale AgreementSCADeposit RefundLapsed Sale AgreementWaiver of Bond Clause
