134
CurrentAvoidance of contract on notification of variation for material prejudice
Part 10Protection of buyers
134 Avoidance of contract on notification of variation for material prejudice
A buyer may avoid a contract for the sale and purchase of a lot at any time within 15 working days after the seller gives the buyer a notice under section 131(1) if —
(a)
the notifiable variation is not one to which section 131(4) applies; and
(b)
the buyer is materially prejudiced by the information or document disclosed (proof of which lies on the buyer).
This Act’s bill:Explanatory memorandumSecond reading speech
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