Legal News

Retaining deposit when the buyer fails to complete (Solid Rock Investments v Reddy)

Retaining deposit when the buyer fails to complete (Solid Rock Investments v Reddy)
Published on: 09 November 2016
Published by: LexisPSL
  • Retaining deposit when the buyer fails to complete (Solid Rock Investments v Reddy)
  • Original news
  • What are the implications of this case for lawyers?
  • What was this case about? Why is it significant?
  • How helpful is the judgment in clarifying the law in this area? Are there any remaining grey areas?
  • How does this case fit in with other developments in this area of law? Do you have any predictions for future developments?

Article summary

Property analysis: When must a property seller return the contractual deposit when the buyer fails to complete? Kate McCall, partner at Shoosmiths, says a recent ruling clarifies how the courts will approach a buyer’s application for the return of a deposit where it failed to complete—and only in exceptional circumstances will the deposit be returned. or take a trial to read the full analysis.

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