Conditions Precedent

Conditions Precedent Revisited #410

Legally Speaking

By Jennifer Clee A representative’s primary duty of care to his/her client is to draft an enforceable Contract of Purchase and Sale. This can be challenging when the representative is also trying to protect his/her client’s interests by including certain conditions in the contract for that client’s benefit. A recent decision of the Supreme Court

Offer or Option – Chapter 2 #63

Legally Speaking

By Gerry NeelyB.A. LL.B. Column No. 57 discussed at length the problem of deciding whether a condition in an offer to purchase is not what is commonly referred to as a true condition precedent, but rather creates an option which must either be under seal or for which consideration must be given to prevent the

Offer or Option #57

Legally Speaking

By Gerry NeelyB.A. LL.B. The following are all abbreviated examples of the usual “subject to” clauses to be fulfilled by a purchaser, right? “Subject to approval of purchase price and terms by (name of the president of the purchasing company was added here). . . “1 “Subject to my inspection and approval of premises. .