In 1988 the appellant sold a farm to the respondent, with the balance of the purchase price payable by 31 August 1997. On 1 September 1997 the appellant issued a mora notice threatening cancellation if payment was not made within 14 days. After expiry of that period, the appellant purported to cancel the sale. The respondent sued for transfer of the property and tendered a guarantee for payment. It was common cause that in 1989 the appellant had ceded his rights under the deed of sale in securitatem debiti to Syfrets Bank. Despite this, Syfrets Bank was not joined in the proceedings.