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DRAFT FOR ATTORNEY REVIEW — NOT FINAL

Collings v. Scheen, 415 S.W.2d 589 (1967)

Citation
Collings v. Scheen, 415 S.W.2d 589 (1967)
Parent Document
Collings v. Scheen, 415 S.W.2d 589 (1967)
Jurisdiction
Kentucky (state)
Effective Date
1967-02-03

Other Sections in This Document (40)

Full Text

925 chars
This provision imports an agreement by the parties that the sale and purchase provisions required the stated financing and an understanding that these provisions were not to he finally operative and obligatory unless Scheen was able before April 1, 1963, to obtain the stated commitment from some lending institution and thus provide payment to Codings of the balance due on the purchase price. This was a condition precedent to the effectuation of these provisions — the act or event, as such a condition is defined, upon the performance or happening of which the sale of the property by Codings and its purchase by Scheen was made to depend. See 17 Am.Jur.2d, Section 19, page 751. It is plain that the provisions quoted imposed on Scheen only an obligation to apply for and have approved, if he could, the stated commitment and financing from some lending institution and did not impose an unconditional obligation to buy.