Please use this identifier to cite or link to this item: https://www.um.edu.mt/library/oar/handle/123456789/60716
Title: Promise of sale agreement and the assignment of rights arising therefrom, in the light of recent legislation
Authors: Farrugia, Jean Paul
Keywords: Obligations (Law) -- Malta
Contracts, Preliminary -- Malta
Real property -- Malta
Vendors and purchasers -- Malta
Issue Date: 2007
Citation: Farrugia, J.P. (2007). Promise of sale agreement and the assignment of rights arising therefrom, in the light of recent legislation (Master's dissertation).
Abstract: Promise of sale agreements (or konvenji) and promise to assign agreements of immovable property have become increasingly popular and more technical throughout the years. Whereas until a few years ago we used to render the promise of sale agreement of immovable property as a bi-lateral contract and thus used to distinguish between two parties, that of the promisor and the promisee nowadays a third party may get involved in the initial stages of the transfer process of an immovable property. The third party will now be the new buyer on the final deed of sale and the first prospective buyer the cessjonarju, will transfer all his rights, duties and obligations arising from the promise of sale agreement unto the new prospective buyer the cedent. As an indirect consequence the use of agreements referred to as 'promise to assign' agreements are becoming more popular between parties. Chapter 1, the introductory chapter, will give an overview of the Agreement of Promise of Sale, detailing its legal consequences and general implications. The introductory chapter will also go into the legal formalities arising out of a promise of sale agreement and the types of clauses one finds in promise of sale agreements. An explanation will be given of the current provisions found in our Civil Code dealing with promise of sale agreements. Due to the fact that the dissertation will concentrate on the effect of recent legislation on the notion of promise of sale agreements and on ancillary agreements, an explanation of such legislation will be given. Such legislation was introduced as part of budgetary measures and therefore is strictly speaking fiscal in nature. Chapter 2 will give an in depth study of the recent amendments regulating promise of sale agreements, including the new formalities required such as the registration of the promise of sale and the paying of tax at the initial stages of the transfer of the immovable property. Moreover this chapter will deal with the issue whether fiscal legislation should affect or even impinge on purely Civil Law notions. Can a fiscal law or procedure change the nature of a well-known and fundamental Civil Law notion by the introduction of procedures that lead to the nullity or non-existence of a preliminary agreement? Can and should non-compliance with fiscal law requirements affect one's civil rights and obligations? Chapter 3 will then focus on the new notion of the assignment of rights arising from promise of sale agreements. The legal implications and consequences of such agreements will be discussed. The resultant rights and obligations of the parties will be delved into. Chapter 2 and 3 will also highlight the areas where necessary amendments are to be made. Chapter 4 the concluding chapter, will then deal with the duties, obligations and warranties the parties owe to each other. Particular emphasis will be given to the warrant of latent defects and the warranty of peaceful possession of the vendor. The actions of the buyer will also be dealt with in some detail.
Description: LL.D.
URI: https://www.um.edu.mt/library/oar/handle/123456789/60716
Appears in Collections:Dissertations - FacLaw - 1958-2009



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