Deposits on promise of sale agreement (konvenju) : an assessment

Abstract

The scope of the term paper is to assess the current jurisprudential thinking on deposit on promise of sale agreements. The background of the thesis will be the brief description between earnest and deposit on account of the price and the loss or forfeiture of deposit. The discussion considers the more recent judgements of the Court of Appeal. The main point to be discussed is whether former practices are still adequate. The term paper is divided into three principle chapters in the following manner: Chapter 1 is introduced the subject and includes a brief overview of the promise of sale agreement highlighting the importance of a deposit as main focus. Chapter 2 gives an in depth analysis of the forms of deposit, outlining the current position regarding a deposit on promise of sale agreement largely based on Maltese judgments. Identifying the legal position of Hybrid Deposit. Chapter 3 analyses the recent Court of Appeal judgments. Chapter 4 concludes with an assessment of the recent COA judgments with regards to Deposit in order to better outline the legal position of all the parties to the promise of sale agreement and what legal steps should be taken to better safeguard every individual involved.