Interest Clauses – Uncertain and Unenforceable #100

By Gerry NeelyB.A. LL.B. What do the following three clauses have in common? “Vendors to carry $90,000.00 by way of a first mortgage payable at $950.00 per month, principal and 12% interest included with a three-year interest adjustment clause. This mortgage to be open and purchaser to have privilege to pay out in full or …