Common Contracts
1 similar Instalment Sale Agreement contracts
TO VALIDLY CANCEL AN AGREEMENT, FOLLOW THE AGREEMENT’S PRESCRIPTSInstalment Sale Agreement • August 7th, 2013
The seller and purchaser in this matter entered into an instalment sale agreement that included a lease component. When the seller purported to cancel the agreement because of the purchaser’s default, his notice was found to be invalid because, amongst other things, the notice granted the purchaser 7 days in which to rectify the breach and not 30 days, as required in the written agreement. It serves as a reminder that a cancellation notice is an important notice requiring attention and care.
