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Buachaill
Buachaill, Barrister
Category: Law
Satisfied Customers: 10525
Experience:  Barrister 17 years experience
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Once a longstop date has expired on a contract if neither

Customer Question

Once a longstop date has expired on a contract if neither party makes reference to the fact that the longstop date has passed can the contract remain enforceable.
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Customer: I have a situation were my client is selling a property.A longstop date was inserted.The contract was conditional on the freeholder granting a licence to assign.The day after the longstop date the freeholder provided the Licence thus triggering a requirement for the purchaser to complete within 7 days.Neither the seller nor buyer has raised the issue of the longstop date being exceeded.Can the purchaser still be required to complete.
Submitted: 9 months ago.
Category: Law
Expert:  Buachaill replied 9 months ago.

1. Yes, the purchaser can still be required to complete, unless they then raise the longstop date. Essentially, both parties can by their conduct waive reliance upon a clause specifying a longstop date. However, there still is nothing to stop them then relying upon the longstop date, unless they have expressly agreed in writing to waive reliance upon the longstop date. In law both parties can treat the contract as continuing and subsisting if they wish. A right of election is given to each party whether to waive reliance upon the longstop date. Once there is an express election to waive reliance upon the longstop clause then the contract can go ahead. Here, so long as the purchaser by his conduct or agreement waives reliance upon the longstop clause, then he can be required to complete.

Expert:  Buachaill replied 9 months ago.

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