sec.78When day of settlement is next business day

### sec.78 When day of settlement is next business day This section applies if— parties enter into a contract for the sale of land; and the contract provides that the day of settlement of the contract is a day that is not a business day in— the place where the contract is to be settled; or if the contract is to be settled electronically and the contract does not provide for a place where the contract is to be settled—the place where the land is located; and the contract does not designate the day mentioned in paragraph (b) as a Saturday, Sunday or public holiday. Despite the terms of the contract, the day of settlement of the contract is— if the parties to the contract agree to another day of settlement—the day agreed; or otherwise—the next business day in the place mentioned in subsection (1) (b) after the day of settlement provided for in the contract. (sec.78-ssec.1) This section applies if— parties enter into a contract for the sale of land; and the contract provides that the day of settlement of the contract is a day that is not a business day in— the place where the contract is to be settled; or if the contract is to be settled electronically and the contract does not provide for a place where the contract is to be settled—the place where the land is located; and the contract does not designate the day mentioned in paragraph (b) as a Saturday, Sunday or public holiday. (sec.78-ssec.2) Despite the terms of the contract, the day of settlement of the contract is— if the parties to the contract agree to another day of settlement—the day agreed; or otherwise—the next business day in the place mentioned in subsection (1) (b) after the day of settlement provided for in the contract. - (a) parties enter into a contract for the sale of land; and - (b) the contract provides that the day of settlement of the contract is a day that is not a business day in— (i) the place where the contract is to be settled; or (ii) if the contract is to be settled electronically and the contract does not provide for a place where the contract is to be settled—the place where the land is located; and - (i) the place where the contract is to be settled; or - (ii) if the contract is to be settled electronically and the contract does not provide for a place where the contract is to be settled—the place where the land is located; and - (c) the contract does not designate the day mentioned in paragraph (b) as a Saturday, Sunday or public holiday. - (i) the place where the contract is to be settled; or - (ii) if the contract is to be settled electronically and the contract does not provide for a place where the contract is to be settled—the place where the land is located; and - (a) if the parties to the contract agree to another day of settlement—the day agreed; or - (b) otherwise—the next business day in the place mentioned in subsection (1) (b) after the day of settlement provided for in the contract.