A fairly standard and regular clause that has been used for years in the real estate business is as follows: The Seller represents and warrants that the chattels and fixtures …
The Doctrine of Merger and Some Solutions
The doctrine of merger applies to “executory” contracts. An executory contract is one that is completed at some future point in time. This applies to real estate transactions since the …
Searching Title: Requisitions and Objections Removal
What should be the normal periods? What’s fair and reasonable? What makes sense from the Buyer’s perspective? What makes sense from the Seller’s point of view? Let’s start out with …
New Funds for an Extended Closing Date
From time to time, the Seller agrees to extend the closing provided the Buyer agrees to pay an additional deposit. But, this time, the Seller keeps it if the deal …
Use the Correct “legal name”
You should really be using the person’s correct legal name, regardless of registration. With married women we do have two scenarios. Mary Jones acquired a property, got married, changed her …
Merger of Contract Provisions
Although it is the general rule that the acceptance of a deed is prima facie full execution of the agreement to convey, and preliminary agreements and understandings relating to the sale of …
An Opportunity to Increase “Professionalism” in the Real Estate Industry
The Supreme Court of Canada made some changes to the common law of contracts. These new changes will afford an opportunity to the real estate industry to increase their degree …
Queen v. Cognos (1993)
Queen v. Cognos Inc., [1993] 1 SCR 87 was an interesting case involving negligent statements. This is important because fraud is very difficult to prove, and the courts will impose …
Fraser-Reid (1980)
The case of Fraser-Reid v. Droumtsekas in the Supreme Court of Canada (1980) dealt with several important legal principles including, caveat emptor, the doctrine of merger, implied and express …
Commencement of Good Faith and Honesty Doctrines
When does good faith and honesty start when it comes to contracts? Well, the first thing that you have to have is a contract. So, that means that the two …