A Promise to Purchase for a duplex in Laval includes a clause stating that the sale is conditional upon the buyer selling their current property within 60 days. If the buyer fails to sell their property within this timeframe, and no extension is agreed upon, what is the consequence for the Promise to Purchase?

Question: A Promise to Purchase for a duplex in Laval includes a clause stating that the sale is conditional upon the buyer selling their current property within 60 days. If the buyer fails to sell their property within this timeframe, and no extension is agreed upon, what is the consequence for the Promise to Purchase?

Answer options: ✅ The Promise to Purchase becomes null and void as of right.

• The seller can sue the buyer for specific performance.
• The buyer loses their deposit to the seller as damages.
• The parties must renegotiate the terms of the Promise to Purchase.

Correct answer: The Promise to Purchase becomes null and void as of right.

Explanation: If a suspensive condition is not fulfilled, the obligation never came into existence, and the Promise to Purchase becomes null and void, meaning it ceases to exist, as per Article 1507 of the Civil Code of Québec.