Catchwords
Vendor and purchaser – Contracts for sale of land - Balance of deposit to be paid on approval of development application - Time of essence - Default by purchasers - Notice of termination - Balance of deposit paid following day - Specific performance - Whether unconscientious for vendors to exercise right of termination - Whether termination effective in absence of prior notice to purchasers requiring payment of deposit within reasonable time.
Equity – Relief against forfeiture - Contracts for sale of land - Default by purchasers - Whether unconscientious for vendors to exercise right of termination - Whether default occasioned by "accident" - Whether relief on the ground of "accident" available in face of essential time stipulation.