Backing Out of Contract

Plebs

Just heard on the 9 o'clock news that an unemployed man, who signed a contract to buy a flat, does not have to follow through.

This precedent certainly has very serious implications for developers.

Jo King

It is not exactly a precedent. The same thing was decided here months ago. There is nothing new in this. Specific performance is an equitable remedy and as such is always discretionary.

http://www.irishtimes.com/newspaper/ireland/2010/0710/1224274418800.html

LittleBook

I think it's unprecedented for Northern Ireland and it's news because it's a Dublin-based company.

Titanic Quarter Buyer Won't Have To Pay

Developer Fails in Titanic Quarter Case

The case will be back in court next month.

The judge will be told the attitude of the developers about proceeding with an action for damages against Mr Rowe for breach of contract.

Interesting nonetheless, I don't think a lot of people know about this.