Stanley makes a written offer to buy Fanie’s house on condition that Stanley obtains a loan from Regular Bank for the amount of R500 000 within three weeks. Fanie accepts the offer by Stanley. Which ONE of the following statements is CORRECT?

Question

Stanley makes a written offer to buy Fanie’s house on condition that Stanley obtains a loan from Regular Bank for the amount of R500 000 within three weeks. Fanie accepts the offer by Stanley. Which ONE of the following statements is CORRECT?

Answer

If Stanley does not obtain the loan within three weeks, the contractual obligations are terminated.

Answer

Fanie can withdraw from the contract if, after a week, it appears that Stanley’s chances of obtaining the loan are remote.

Answer

No binding contractual relationship has come into being between the parties.

Answer

The contractual obligations come into operation on acceptance of the offer by Fanie.

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Stanley makes a written offer to buy Fanie’s house on condition that Stanley obt...

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