What is ABLE TO PURCHASE? Definition of ABLE TO PURCHASE in Black's Law Dictionary
"Ability" in sales contracts, dependent on ability to purchase, usually means financial ability. Anderson v. Craig, 111 Mont. 182, 108 P.2d 205, 206; House v. Hornburg, Sup., 39 N.Y.S.2d 20, 22. Purchaser must have financial ability and legal capacity to acquire land. Campbell v. Hood, Tex.Com.App., 35 S.W.2d 93, 95, 85 A.L.R. 266.
Purchaser is able to purchase, as respects broker's right to commission, if he is financially able to command the necessary funds to close the deal within the time required. Hersh v. Garau, 218 Cal. 460, 23 P.2d 1022. Even though part of the money must be obtained on the purchased property itself. Pellaton v. Brunski, 69 Cal. App. 301, 231 P. 583, 584. But see Bateman v. Richard, 105 Okl. 272, 232 P. 443, 445; and Reynor v. Mackrill, 181 Iowa 210, 164 N.W. 335, 1 A.L.R. 523, holding that a person, to be able to purchase, must have the money for the cash payment, and not merely property on which he could raise it. See, also, Peters v. Mullins, 211 Ky. 123, 277 S.W. 316, 317. See Financially Able.
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