when? Question: Precisely, when does a contract start to run? When does the clause time actually start? Assume an offer is going on via fax. The Seller is in a …
Add Party and Amend Deposit Clause
Adding another Buyer by Amendment in Ontario From time to time only one of the prospective Buyers is able to execute the Agreement. For the purposes of mortgage financing, the …
Flicking the Lights on the Front Porch – Acceptance?
Bob went to see a property listed by Mary. Her client was vulnerable in terms of her immune system and consequently they took every measure to avoid personal meetings. Bob …
The Legal Definition of “Acceptance”
communication Since the art of negotiating is very much part of every real estate deal, and it is the offer and the acceptance of that offer that creates the binding …
Contract Creation
There are a few things to consider when we are talking about a contract. First of all, you have to get it going in the first place. There are two …
Amending Agreements, Satisfying Conditions, Waiving Provisions
There are two methods to handle these matters: Long form, Short form. Long Form Method Let’s assume that you have a Condition included in an Agreement which reads as follows: …
Time for Executing the Amendment
This is a frequent question. Time and time again, agents inquire about executing an Amendment to an Agreement “after the fact”. So, “no” you can’t revive the old contract. What …
Misguided Discipline Decision Thwarts Fiduciary Duties and Contract Law
A rather interesting Discipline Decision was recently released by RECO. Obviously, the Regulator wants everyone to “play nice in the sandbox”, after all we are “Canadians”. The only problem is …
Disclosed Kitec Plumbing is not a Reason to Permit Buyer to Walk
The Divisional Court of Ontario just considered a Kitec Plumbing issue in a condominium. In fact, it was disclosed. It was also identified in the contract and subsequently it was …
Seller Loses “Time of the Essence” Clause for Lack of Good Faith
In a recent decision the Ontario Court of Appeal prevented a Seller from relying on the “time is of the essence” clause in the Agreement. The reason was simple, the …