Vendors' statements, the right to cool off and remedies: Le Cornu and Kurda v Place on Brougham Pty Ltd

Abstract

Le Cornu and Kurda v Place on Brougham Pty Ltd [2013] SADC 32 confirms that a Vendor’s Statement is not invalid due solely to the non-existence of the property the subject of such statement. Yet, once a Vendor’s Statement is rendered invalid on other grounds, the right to cool off remains open, allowing the purchaser a choice between electing to affirm or rescission. In either case, though, the vendor retains the right to claim estoppel.