Non-Refundable Deposits #52

BC Real Estate Association logo with the words "legally speaking" printed below

By Gerry NeelyB.A. LL.B. There appears to be an increasing use in interim agreements of phrases such as “non-refundable deposit”, “at which time a firm contract exists” or “upon which this contract shall be binding upon the parties”. The use of these phrases suggests that the licensee hopes that certain legal consequences will flow from