Question
Capture the following scenario: the seller entered into a written agreement with the purchaser in terms of which the seller sold to the purchaser a
Capture the following scenario: the seller entered into a written agreement with the purchaser in terms of which the seller sold to the purchaser a certain farm in the district of Omaruru for consideration of R67 500 (equivalent to N$67 500). The purchaser occupied the farm before paying the full purchase price as per agreement. It was stipulated that the transfer of the farm must occur as soon as possible. The farm was duly transferred to the purchaser on condition that the principal sum had to be paid within a 2 period of three years upon the date of registration. The first mortgage bond was registered on 10 May 1985. By 10 May 1987 no portion of the purchase price had been paid. The seller sent a notice purporting to cancel the sale arguing that the purchase price had not been timeously paid. With reference to applicable case law and legislations, discuss the remedies applicable to ownership in the law property.
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