Contract – clause granting “either party” a right to rescind contract in the event of death or mental incapacity – construction CONTRACTS – right of party to rescind contract on party’s death – whether right may be exercised by executor named in party’s will before grant of probate – implication CONTRACTS – termination and rescission – rescission – limitations on rescission – party relying on own breach to rescind contract – whether reliance on delayed completion of contract disentitles vendor from exercising contractual right to rescind EQUITY – equitable remedies – rectification – alleged mistake in including clause permitting rescission in the event of a party’s death EQUITY – equitable remedies – relief against forfeiture – whether unconscientious to exercise right of rescission in the event of the vendor’s death ESTOPPEL – contract for sale of land – lease to related party of purchaser – conventional basis of dealing – detriment LAND LAW – conveyancing – contract for sale of land – obligations of vendor and purchaser – purchaser’s obligation to initiate settlement – vendor’s obligation to co-operate LAND LAW – conveyancing – contract for sale of land – rescission – notice of rescission – notice issued by executrix of the deceased vendor – entitlement of executrix of deceased vendor to issue notice under the contract WILLS PROBATE AND ADMINISTRATION – testate estates – executors and executrices – status of executor or executrix prior to grant of probate – Probate and Administration Act 1898 (NSW), ss 44 and 61 – validity of notice to rescind contract given by putative executor or executrix before grant of probate – relation back doctrine