Suspensive Condition Lease Agreement

The parties may also agree in writing (in the form of an endorsement to the sale agreement) to extend the period during which the suspensive condition must be met (but this extension must take place in the same manner before the expiry of the execution period). If, in the example above, only R1,400,000 is approved by December 2, 2013, or 100,000 R100,000 less than the required amount, the condition is not met and the contract expires. If a loan for R1,500,000 is approved, but only on December 5, 2013, the condition is not met on time and the contract expires, as was decided in Meyer/Barnardo and 1984 (2) SA 580 (N). It is important to note that, in order to ensure adequate protection for both parties to the agreement, a time limitation is often linked to the suspensive condition. This means that if the suspensive condition is not met within a specified period of time (z.B. if the buyer`s current home is not sold within 30 days), the condition is deemed unfulfilled and the contract is therefore invalid. 1 The plaintiff, as the owner of a property, sues the first accused as a tenant within the meaning of a written tenancy agreement. The applicant is seeking damages arising from the applicant`s acceptance of the applicant`s alleged refusal of the tenancy agreement. The second defendant is being sued as a surety for the duties of the first defendant as the principal debtor. If the offer to purchase contained a suspensive condition that the sale was pending until the sale of the buyer`s current home, the absence of that sale would mean that that condition is not met and that, therefore, the contract in its entirety is not concluded. “As the alleged lease was cancelled, it was also terminated due to the substantial inaccuracies mentioned above, the applicant is entitled to the repayment of this surety.” 18 The applicant wishes to replace the terms “under the title ” SUSPENSIVES CONDITIONS” on page 2 of Appendix A with the terms “with special conditions” in force. The word “for” in the last line, an obvious typization error, must also be replaced by the word “de.” For advice on the conditions that can and should be included in an offer to purchase to protect the seller and buyer, it is helpful to consult an experienced intermediary or real estate agent.