17Stipulations in instalment contracts depriving purchasers of certain remedies to be void—rights of purchasers to make early payments

17 Stipulations in instalment contracts depriving purchasers of certain remedies to be void—rights of purchasers to make early payments

17 Stipulations in instalment contracts depriving purchasers of certain remedies to be void—rights of purchasers to make early payments

(1) Any stipulation in an instalment contract entered into before registration of a plan of the subdivision shall be void to the extent to which it could have the effect of depriving the purchaser of any remedy (including any right to make time of the essence of the contract) in the event of undue delay by the vendor in procuring registration of such plan.

(2) Notwithstanding any stipulation in an instalment contract, a purchaser under the instalment contract may pay any instalment payable under the instalment contract although the time for payment has not arrived, and in any case where the instalment contract provides for the payment of interest on any instalment payable thereunder and that instalment is paid before the time for its payment has arrived, no interest shall be payable from the date of payment of the instalment.