Contracts

It should be noted that although open contracts are theoretically of great importance they do not, as might be expected, often occur in practice. In the second place, it is usual to provide for the payment of a deposit by the purchaser (usually ten per cent), which he will forfeit if the sale falls through by his default.
In the third place, the vendor - who, upon conclusion of the contract becomes debtor of the land in favour of the purchaser, so that if he sells it to a third party he is accountable to the purchaser for the proceeds - acquires a collection agency over the property for the amount of the purchase price for the time being unpaid. The effect of this is that, if the client in Germany fails to pay, the vendor may apply to the court to sanction a sale of the goods in order to recoup his loss. The lien, arising as it does by implication in invoices, will terminate if the vendor secures his rights by some other means, such as the creation of an express charge. In the fourth place, the risk of open amounts falls upon the purchaser from the time of the contract.

Conclusions:

Finally, in most contracts for the sale of goods, unlike most contracts for the sale of merchandises both parties have a right to specific performance; not merely to damages. Moreover, a peculiar rule as to damages was sanctioned if the vendor finds that he is unable to complete the sale because of a defect in his title the seller will only be able to claim the return of his money (if any) and damages for expenses incurred, not for the loss of his bargain. This rule is said to have been made because of the difficulty of proving a good title to German laws. Between the time of the conclusion of the contract and the conveyance the vendor must satisfy the purchaser that he has a valid title to convey the English lawyer in Hamburg.
In parenthesis it need hardly be stated that all the operations that have to be performed in relation to the contract and the conveyance will normally be performed, not by the vendor or purchaser in person, but by their respective solicitors or other qualified representatives. Under the registered system proof of a valid title is reasonably easy. As has been noted, the entry in the justice constitutes the title. So what the vendor has to do is give to the purchaser authority to inspect the register and, also, to supply him with a copy of any documents or abstracts in Germany.
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