The Cancellation Of Agreement To Sell is a crucial legal instrument used in Singapore when parties mutually agree to terminate their original sale agreement. This document is particularly relevant when circumstances change after the initial agreement but before the completion of the sale, or when parties discover that proceeding with the sale is no longer viable or desirable. It addresses key aspects such as the return of deposits, mutual release of obligations, and any compensation terms, while ensuring compliance with Singapore's legal framework, including the Civil Law Act and Sale of Goods Act.
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1. Parties: Identification of all parties involved in the original agreement and cancellation
2. Background: Details of the original agreement and circumstances leading to cancellation
3. Definitions: Key terms used in the cancellation agreement
4. Cancellation Terms: Specific terms and conditions of the cancellation
5. Effective Date: When the cancellation takes effect
6. Mutual Release: Release of obligations and liabilities between parties
7. Governing Law: Confirmation of Singapore law as governing law
1. Refund Terms: Terms for refunding any payments made under the original agreement
2. Confidentiality: Provisions for maintaining confidentiality of the agreement and related information
3. Return of Property: Terms for returning any property or documents exchanged under the original agreement
4. Survival Clauses: Specifying which provisions of the original agreement survive the cancellation
1. Schedule 1 - Original Agreement: Copy of the original agreement being cancelled
2. Schedule 2 - Payment Schedule: Details of any refunds or outstanding payments to be settled
3. Schedule 3 - Property Schedule: List of properties or items to be returned between parties
Relevant legal definitions
Agreement to Sell
Original Agreement
Cancellation Date
Effective Date
Parties
Seller
Buyer
Purchase Price
Deposit
Property
Goods
Completion Date
Refund Amount
Released Claims
Surviving Provisions
Force Majeure Event
Confidential Information
Business Day
Related Documents
Representatives
Governing Law
Jurisdiction
Original Agreement
Cancellation Date
Effective Date
Parties
Seller
Buyer
Purchase Price
Deposit
Property
Goods
Completion Date
Refund Amount
Released Claims
Surviving Provisions
Force Majeure Event
Confidential Information
Business Day
Related Documents
Representatives
Governing Law
Jurisdiction
Clauses
Recitals
Interpretation
Definitions
Cancellation
Effective Date
Mutual Release
Return of Property
Refund
Confidentiality
Costs
Further Assurance
Survival
Waiver
No Admission of Liability
Entire Agreement
Amendment
Severability
Assignment
Notices
Third Party Rights
Force Majeure
Governing Law
Jurisdiction
Counterparts
Interpretation
Definitions
Cancellation
Effective Date
Mutual Release
Return of Property
Refund
Confidentiality
Costs
Further Assurance
Survival
Waiver
No Admission of Liability
Entire Agreement
Amendment
Severability
Assignment
Notices
Third Party Rights
Force Majeure
Governing Law
Jurisdiction
Counterparts
Relevant Industries
Relevant Teams
Relevant Roles
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