Question
W1: Refer to section 34 of the Sale of Land Act 1962 and summarise the section. Would a purchaser be entitled to rescind a contract
W1: Refer to section 34 of the Sale of Land Act 1962 and summarise the section. Would a purchaser be entitled to rescind a contract if the vendor's statement disclosed a connected telephone and the vendors had the telephone service cancelled when they moved three weeks prior to settlement?
W2: What happens if the Form 2 is not given to a purchaser before the contract is signed? Does the purchaser have any remedy?
W3: Summarise the powers of the Council What are the qualifications of its members?
W4: Collect the following REIV forms for your own records:
a) Exclusive Sale Authority
b) General Sale Authority
c) Exclusive Auction Authority
d) Source and briefly explain forms: wf001 and wf003
W5: Examine the Sale of Land Act and other publications and locate the following:
(a) The geographic limit in which a legal practitioner shall not act for both a vendor and purchaser under a terms contract.
(b)Where the situation in (a) above applies, can another partner of the legal practitioner or a person employed by the same firm act for one party to a transaction in order to circumvent its application? (c)Purchaser's remedy and its limitation.
(d)What if the parties to the terms contract are related - does this become a conflict of interest. What would you do if so?
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