法律英语词汇“open contract”的翻译、意思、用法、释义-法律词典

open contract
A contract for the sale of land in which the only express terms are the identity of the parties, the property, and the price. An open contract is valid if it is in writing or, for contracts made before the Law of Property (Miscellaneous Provisions) Act 1989 came into force, it is evidenced by writing (see memorandum in writing) or part performance. Other necessary terms are implied, including:

1. a condition that the vendor must convey an unencumbered freehold title, although the purchaser is bound by any defect of which he knew and which cannot be removed;

2. in the case of unregistered land, the vendor must within a reasonable time produce at his own expense an abstract of title beginning with a root of title at least 15 years old;

3. the vendor must give vacant possession on completion;

4. the transaction must be completed within a reasonable time: if it is not, the vendor is entitled to interest on the unpaid price and the purchaser to the income of the property from the time when completion should have occurred.

In the case of contracts made by correspondence, statutory conditions set out in regulations made under the Law of Property Act 1925 apply (see Statutory Form of Conditions of Sale). A vendor cannot insist on preparing the conveyance himself (a contractual term to this effect is void), but apart from this the implied and statutory conditions may be dispensed with, varied, or supplemented by agreement between the parties. In practice, the forms of contract generally used specify the parties’ rights and obligations much more precisely, and the Standard Contractual Conditions are invariably used.