Enormis læsio ----- It was held in Jayawardene v. Amerasekera (1912) 15 NLR 280 that, a person who knows the value of his property is not entitled to rescission of the sale merely by reason of the fact that the price at which he has sold the property is less than half its true value. The case is otherwise where the property is sold at a price grossly disproportionate to its true value. In that case the law is on the side of the party who stands to lose by the transaction, and not on the side of the party who stands to make an unconscionable profit. On the execution of a notarial conveyance the sale is complete, and the mere fact that the whole of the consideration has not been paid cannot, in the absence of fraud or misrepresentation, afford ground for the rescission of the sale and the cancellation of the conveyance.
Posted on: Fri, 21 Mar 2014 09:05:11 +0000
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