A landowner signed a combination deal with a contractor, according to which the contractor had to commence building the project within 5 years. Ten years later, the contractor refused to delete a cautionary note that had been recorded in his favor, and offered to pay instead of canceling the agreement the compensation stipulated in the agreement in case of a delay in execution.
The Court held that a party that violates the agreement is not entitled to benefit from its tort by being granted unlimited time to revive the transaction and is not entitled to bind the other party to the agreement, especially after it has been violated by him for many years. Especially in view of the increase in housing prices, it is unlikely that for more than five years after the date for consummation, to enable the contractor to pay the compensation stipulated in the agreement for a case of delay.