Brett Ronald Larsen v Rick Dees Limited - SC 29/2006

Civil appeal – agreement for sale and purchase of ten residential units – delays in settlement - vendor issued settlement notice - notice specified that on receipt from purchaser of faxed bank cheque for settlement figure, title documents would be delivered – purchaser transferred funds electronically before the time limit but confirmation fax only received after time limit – Court of Appeal allowed appeal from decision of High Court in which purchaser’s claim for specific performance was dismissed on basis that purchaser had not settled in accordance with the settlement notice – whether the Court of Appeal erred in finding that the purchaser had fulfilled its obligation to settle in terms of the settlement notice -  whether the Court of Appeal applied the correct provision of the Contractual Remedies Act 1979 with respect to the vendor’s entitlement to cancel.   CA 82/05 13 March 2006