Question: Just how does the “holdover provision” work? Answer: Let’s have a look at the actual provision: “The Seller further agrees to pay such commission as calculated above if an …
Can you just Walk Away from a Conditional Deal in Ontario?
Not anymore! Let’s assume that a Buyer submits an Offer conditional upon: Financing, and Home Inspection. In both conditions, the clauses say “satisfactory to the Buyer in the Buyer’s sole …
Another Schedule “B” waiving Rights (even worse)
Question: I just came across this clause in a Schedule “B” inserted by the Listing Agent. What do you think? “THE PARTIES HEREIN ACKNOWLEDGE, COVENANT AND AGREE that should any …
The Liability of a Minor under a Contract in Ontario
Question: Contracts in Ontario are voidable by minors. If so, why would anyone ever deal with a minor? Answer: The intention is to prevent adults from taking advantage of minors …
Fundamental Difference Disclosure
Stigma Disclosure in Canada Revisited For years, I followed what I believed to be the traditional advice of lawyers concerning disclosure and caveat emptor. Basically, there had to be a …
Early Contract Remedies in a Market on the Move
The following article was written in early May 2017. That’s the last time that we saw a measurable market decline. If we have one again, the same legal principles will …
Deposit Forfeiture Upheld By Court of Appeal (Redstone)
Redstone Enterprises Ltd. sold its warehouse in Brantford Simple Technology Inc. for the purpose of setting up a legal Marihuana Grow House. Agreement of Purchase and Sale: July 8, 2014 …
Assignments Can Cause Difficulties Over Closing Dates (Ontario)
Question: I represent assignees in an assignment for a detached home. The assignment states that other than the deposit for the assignment (25k) all payments and the deposit for the …
Assignments and Extensions of the Closing Date (Ontario)
Assignments and Extensions of the Closing Date (Ontario) Question: I represent the Assignee in a transaction for a condo under construction. The original Agreement of Purchase and Sale with the …
Power of Attorney and Notarization (Ontario)
Question: My clients are residents of Canada who are on a work assignment out of the country. Due to work, it is very difficult for them to return to Ontario …