Conditional Clause

Best Efforts or Whim and Fancy Conditions #163

Legally Speaking

By Gerry NeelyB.A., LL.B. The subject of conditional offers and their enforceability continues to confound licensees and lawyers alike. The difficulty lies in failing to recognize the distinction between conditional clauses which require the approval of someone other than the purchaser or the vendor, and those conditional clauses, which, as one judge said, are subject only

Reference: The “72” Hour Clause #141

Legally Speaking

By Gerry NeelyB.A. LL.B. The time clause, which may be whatever number of hours the parties agree upon, is a useful tool for negotiating conditional offers but it can create problems when notice of an acceptable offer made by a second purchaser cannot be delivered promptly to the first purchaser. The first reported case of

Removal of Conditions and the Law and Equity Act #17

Legally Speaking

By Gerry NeelyB.A. LL.B. An offer to purchase the assets of a hunting and fishing lodge, was subject to a number of conditions, one of which was the following: “Subject to obtaining financing, provided that this subject clause shall be removed on November 30th, 1975.” It appears from the decision of the Supreme Court of