From time to time, Brokerages will draft up their own, individual clauses, presumably for the benefit of the Seller clients and post them in their Schedule “B”. Naturally, it’s important …
Counting Days in Ontario
Counting the days in Ontario is a question that has come up before. It’s important to get it right, because otherwise the consequences could be disastrous. There are calendar days, …
Seller Keeps the Resale Profit PLUS the Deposit
The Ontario Court of Appeal looked at a situation where the Buyer was purchasing a new home in Brantford. An error was made in terms of the name of the …
Deposit of 5% Forfeited notwithstanding Profit on Resale
The issue of the deposit came up once again in the Superior Court of Justice before Justice Shaw in Sinha v. Shabestari, 16 January 2018. …
Make a Partial Payment Instead of an Increased Deposit
There are very good reason from the perspective of the Buyer that the deposit should not be increased too much. Once a certain level has be reached additional moneys should …
Mutual Releases – The Practice in Ontario
Question: Why do we insist on a Mutual Release when a deposit was never paid? The Agreement of Purchase and Sale already says it becomes “null and void” if a …
Lot Falls Short of “more or less”: Deposit Returned
The Ontario Court of Appeal released a decision about a deposit on 12 December 2018 in Hosseinzadeh v. Pringle. The case is rather straightforward. The parties were troubled over the …
More on Deposits
(Ontario) Question: I’m trying to find information about deposits. If schedule B says certified or draft, and a personal cheque is dropped off, can it be refused? What about sending …
3 Reasons for the Deposit
The deposit is not consideration in a transaction. It’s not like the nominal “$2.00 and other good and valuable consideration that is used for a Transfer”. The Deposit is designed …
20% Deposit is Good
The Ontario Court of Appeal just had an opportunity to consider the size of a deposit in an agreement. If it’s too large, it might be struck down as a …