House Purchaser wins case against obligation to complete purchase of property.
In an interesting case in the North of Ireland heard in the High Court before His Honour, Mr. Justice Denny, a building company was refused their application to force a purchaser to complete a contract to buy an apartment in what is known as the Titanic Quarter of Belfast.
In effect, the argument by the Defendant, a Mr. Neil Rowe, was that he had no funds to complete this transaction. A significant number of cases have apparently appeared before the Court, where developers have tried to enforce their contracts.
This case was seen as something of a test case as to whether impecuniosity constituted a Defence to a claim for an Order for specific performance.
In his Judgement, the Judge indicated that he would set aside that the impossibility of performance is a ground in law for refusing the remedy of specific performance.
He, accordingly, refused the performance sought by the Vendor.
It will be interesting to see whether this case will be followed by cases appearing in Courts “South of the Border”!
Paul Tracey Solicitors 01/09/2010
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