LESSER BOND AMOUNT OBTAINED BUT BALANCE SECURED ON TIME – SUSPENSIVE CONDITION FULFILLED?
Basson and Another v Reddy and Others (11695/2017)  ZAKZDHC 9 (30 April 2018)
Property practitioners know that the details of a suspensive condition must be met to the tee for the condition to be considered fulfilled. In this matter, this was the essence of the enquiry, being: if a sale agreement is subject to a suspensive condition that the purchaser must secure a 100% bond by a stipulated date, and the purchaser secures only a 90% bond but pays the balance in cash within the due period, has there been compliance?
STBB’s STSMA REFERENCE GUIDE
In this, the fifty-fifth set of notes for your STSMA Reference Guide, Prescribed Conduct Rule 3 is discussed.
Prescribed Conduct Rule 3
(N.B. Print in landscape)