SICA repeal and abatement of rehabilitation proceedings barred further control over company assets; illegal share allotments and sales were struck dow...
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SC held that the buyer's conduct in encashing refund drafts demonstrated unwillingness to perform the agreement to sell. The seller's prior cancellation letter constituted a jurisdictional fact precluding specific performance. The buyer failed to establish readiness and willingness to execute the contract, thereby disentitling herself from the equitable relief. The court emphasized that absent a declaratory challenge to the agreement's termination, the specific performance suit remains non-maintainable. Consequently, the appellant's appeal was allowed, effectively preventing specific performance and upholding the seller's right to cancel the agreement based on the buyer's unequivocal actions.
SC held that the buyer's conduct in encashing refund drafts demonstrated unwillingness to perform the agreement to sell. The seller's prior cancellation letter constituted a jurisdictional fact precluding specific performance. The buyer failed to establish readiness and willingness to execute the contract, thereby disentitling herself from the equitable relief. The court emphasized that absent a declaratory challenge to the agreement's termination, the specific performance suit remains non-maintainable. Consequently, the appellant's appeal was allowed, effectively preventing specific performance and upholding the seller's right to cancel the agreement based on the buyer's unequivocal actions.
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