A Plain Language Purchase Agreement
This form is a contract between a seller and a real estate company that authorizes the real estate company to act on behalf of the seller when it puts its house up for sale on the open market. A written agreement is needed to guarantee the commission and ensure compliance with the REBBA code of ethics. “If one of the parties of the other party makes a promise that is not or is not correct, the party must respect or correct it. The promise can be made anywhere in the agreement. Introduction Reception From legaleszu to single English Complexity Plain or English sub-standard? Unfeasibility Error of Law Comment 7. Another Buyer 7.1 The buyer may inform the seller that another designated person (or “Nominee”) will complete the purchase on the buyer`s place. 7.2 However, the buyer must continue to respect the contract as a buyer if that person does not do so if necessary. This clause 7.2 applies regardless of whether the terms “or nominated” (or nominated) appear after the buyer`s name in Section A. “If the buyer executes this contract with the designation of a nominee or as a representative of an undisclosed client or on behalf of a company to be created, the buyer is responsible at all times for all of the buyer`s obligations.” Commentators drew attention to the contractual uncertainty created by the words “everything else for sale.” These words are also the source of the language problem in the clause: it is not possible to replace a pronoun (for example. B “es” or “she”) by an un defined word or language such as “everything else.” Not practical Far from facilitating the purchase and sale, the new form contains a number of provisions that are not practical.
For example, section 12.4 states that “the down payment must first be paid to the agent or, in the absence of an agent, to the seller`s lawyer (note 31.1).” There may not be a lawyer, but the clause does not allow this possibility and states that “the seller must immediately pay the down payment to the agent or lawyer if the down payment is first paid to the seller.” The form does not explain why a down payment cannot be made to the creditor. Article 19.5 contains the Seller`s commitment to remove all registered reservations about the security at the time of billing, but the purpose of a reserve is to prevent unregistered interest from being lost in the event of a trade in the property. The best protection for the team is to refuse permission for a sale, unless the reserve stays. In case of damage to the property before the count, the buyer must obtain a quote on the depreciation of the property, although the seller can obtain the quote if the buyer does not do so as soon as possible. The buyer may refuse the settlement unless the quote is available. Why not just allow the seller to get the quote? The clause provides for a reduction in value that must be decided “by a formal dispute resolution procedure,” but this procedure is not provided for by the treaty, with the exception of mediation. The provisions relating to the transaction are even more problematic, as they contain nine or ten sub-clauses that impose various obligations on the buyer`s and seller`s lawyers who are not parties to the agreement. In the essential conditions provisions, one party may inform the other party that the agreement is broken “if the other party is unable to comply with a clause essential to the good of the party.” One party must give notice of delay to the opposing party if it wishes to terminate the agreement for breach of an essential clause “and if the other party can continue to comply with the essential clause.” How can one party decide for another whether it is possible or impossible for it to comply with a clause? Since the termination of an agreement can have serious consequences for one or both parties, these provisions are not satisfactory.