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Piper Alderman | Australia | 12 Nov 2013

Best endeavours: court considers real estate contract terms

It is common for contracts for the purchase of real estate to include a term that the contract is "subject to finance" and that a party will use its "best endeavours". While such terms are often included, they are rarely litigated. Even rarer is that such a matter would proceed to trial. The District Court of South Australia recently provided clarity on this topic.
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