Some seller clients had asked me recently about the fulfillment of conditions form 124. They had emailed me lots of documents which were required to satisfy a condition of purchase. …
Deposit: Automatic Forfeiture Clause in Schedule “B”
Question: I am acting for a Buyer and saw the below clause in Schedule B. “The Buyer hereby agrees that if the Buyer does not complete this transaction whether by …
Buyer Discovers Appliances are Missing on Closing
Washer and Dryer Missing on Closing Question: I acted for a Buyer client. It closed today. Buyer gets keys and washer/dryer are missing. I put the following in included Chattels …
Leased Heating Equipment: Chattel or Fixture?
The Ontario Court of Appeal quoted with approval a decision of the House of Lords (Melluish). In this case, a company leased plant and machinery (including central heating equipment) to …
Omission Obligation Not Expanded by Court of Appeal
The Ontario Court of Appeal had to consider the application of the Supreme Court of Canada’s decision in Callow v.Zollinger in its case Greta Energy Inc. v. Pembina Pipeline Corporation …
Threatened Cancellation of Contract By Buyer Failing to deliver the Deposit
Question:I am the Listing agent acting on behalf of my client who is selling his condominium. I sold the condo conditional on Status and Finance yesterday. In fact, there were …
Time for Closing: 5:00 pm or 6:00 pm?
There used to be a time when agreements of purchase and sale provided that transaction must be completed prior to 4:30 pm on the date scheduled for closing. Now that …
Protecting Buyers and Sellers from “leaky basements”
Never mind wondering who you can sue, the best time to protect yourself is before the deal is done. Consider the following case, it’s really quite common. John and Mary …
Selecting a Title Search Date without Negligence
It seems unusual for a real estate agent to be selecting a title search date without speaking to the client’s lawyer, yet, they do all the time. Rarely, if ever, …
Fraud Eliminates the Entire Agreement Clause
The Ontario Court of Appeal just confirmed that the “entire agreement” clause does not prevail when it comes to fraud in 10443204 Canada Inc. v. 2701835 Ontario Inc. November 1, …