News  Sources

The new law that changes agreements in the real estate world

A new law passed by the Knesset significantly changes how real estate contracts are interpreted, prioritizing the written wording of agreements over external circumstances or the parties' intentions. This amendment limits a longstanding legal principle that allowed courts to look beyond the text, aiming to increase certainty and reduce judicial discretion in commercial contracts, especially in real estate. Legal experts highlight that every detail in a contract now carries greater weight, making careful drafting more crucial than ever. While the amendment enhances stability and risk management, it also places more responsibility on all parties involved to ensure their agreements are clear and comprehensive.

Original article source: https://www.jpost.com/business-and-innovation/real-estate/article-883691
Source Id: 9048507589

share this article:  

Our mission is to provide you with up-to-date, concise news from multiple sources in one place, keeping you informed about Israel.
 
Hit 'Subscribe' to get the latest curated news about Israel delivered daily to your inbox