The statutory right to rescind under s 5 of the Land and Business (Sale and Conveyancing) Act 1994 (SA) can be lost through election by conduct or equitable estoppel, but only where the purchaser had actual knowledge of the facts omitted from a defective vendor's statement at the time of the conduct said to constitute the election or estoppel. Section 33 of the Act does not preclude election by conduct. Vendors defending against late rescission notices should plead and prove the purchaser's knowledge of the relevant defects.
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