Avoidance of contract — manner and effect
164 Avoidance of contract — manner and effect
A notice of avoidance of a contract for the sale and purchase of a lot must —
be given by the buyer to the seller in writing; and
specify the grounds on which the contract is avoided, including details of the material prejudice to the buyer if required as grounds for avoidance.
On the avoidance under this Part of a contract for the sale and purchase of a lot —
the buyer may recover from the seller as a debt all money paid by the buyer under the contract; and
a person who is holding a deposit or other amount on behalf of the buyer for the contract must repay the deposit or other amount to the buyer, minus any amount due to the seller as rent for any period during which the buyer was in occupation of the lot or entitled to receive the rents and profits of the lot.
[Section 164 inserted: No. 30 of 2018 s. 83.]
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