specific performancebank guaranteepurchase pricereciprocal obligationscontract of sale
Tags
specific performancecontract of salebank guaranteereciprocal obligations
legislation
Statutes Cited
Finance (No. 2) Act, 2019
ai analysis
Case Summary
Key Issues
{"issue_text":"Whether applicants are entitled to specific performance without having paid the purchase price or tendered payment","issue_type":"mixed","dispositive":"yes","related_facts":"Applicants have not paid US$40,000; bank guarantees expired unused; no tender of payment in application"}
{"issue_text":"Whether force majeure defence applies due to currency changes and additional municipal requirements","issue_type":"law","dispositive":"no","related_facts":"Introduction of new currency regulations; City of Harare road construction requirement"}
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background
Facts of the Case
Background
The applicants (husband and wife) purchased a property from the respondent for US$40,000 under an agreement of sale dated 23 June 2017. They attempted to pay via two bank guarantees that expired without being acted upon by the respondent's conveyancers. The applicants sought specific performance compelling transfer of the property, while the respondent raised defences of force majeure and changed circumstances.
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