How the law responds when a property sale fails to complete on time — and the ordered set of remedies that takes the innocent party from delay to termination.
A missed completion date rarely ends a transaction by itself; instead it sets in motion a graduated sequence of responses, and the order in which they arise is as important as the remedies themselves. The chapter begins with the legal effect of the contractual completion date where time is not of the essence, including the deadline for receipt of completion monies and the structure of remedies that delay unlocks. It then works through contractual compensation under the Standard Conditions of Sale — payable without proof of loss whichever party defaults — before turning to the notice to complete, its notice period, the conditions for valid service, and what it means to be ready, willing and able to complete. It ends with rescission once the notice expires unmet, the distinct remedies available to a rescinding seller and a rescinding buyer, the alternative of specific performance, and common law damages, including the rule against double recovery and the remoteness test.
