CONTRACT OF SALE OF LAND: PRINCIPLE IN ODUSOGA V RICKETTS

                                               

Facts of the case

   The land in dispute is a portion of the Land (4 plots) sold by the administrators of the estate of Babatunde Jemi-Alade deceased in 1965 to the Plaintiff. Mr. Ricketts paid part of the purchase-price to the vendors but failed to pay the balance. He went into possession and surveyed the land, (the entire 4 plots). He however developed only part of it leaving the part now in dispute undeveloped. He bought the 4 plots of Land for $950.00 (Nine hundred pounds) but made a part- payment of $700.00 (seven hundred pounds) for which he was given a receipts. This was in 1965. He did not pay the balance of the purchase price despite repeated demands from the vendors.

             

Relevance to Conveyance Procedure In Nigeria

The Supreme Court laid down some principles that guides conveyance procedure in Nigeria;

v  1. Where the purchaser fails to pay the full purchase price, there is no valid sale, even if the purchaser is in possession. Possession cannot defeat the title of the vendor.

v  2.The three essential ingredients that constitute a valid sale under customary law are;

·         Payment of Purchase Price

·         Purchaser is let into possession by vendor

·         In the presence of witnesses.

v  3. Where part-payment is made by the purchaser and the balance to be tendered within a stipulated time or in absence of a stipulated time within a reasonable time, the vendor cannot rescind from the contract of sale and the purchaser will be entitled to a decree of specific performance.

v 4.  Where the purchaser who has made a part-payment of the purchase price is in default of payment of the balance, there is right in the vendor to rescind the contract of sale and re-sale the property.

v  5. Lastly, a mere receipt of purchase did not confer legal estate to the land in dispute to the purchaser but confers equitable interest.