Date of Completion

"Time is of the Essence" Consideration #215

Legally Speaking

By Gerry NeelyB.A., LL.B. One of a licensee’s more difficult tasks is setting the date for completion of the sale of property, which is in the process of being subdivided, and to provide for an enforceable extension of closing should registration of the subdivision plan be delayed. Several recent decisions have revolved around the interpretations

Commission Cases #189

Legally Speaking

By Gerry Neely B.A. LL.B The right of an agent to a commission arose in a case where the vendor refused to complete a sale because just two days prior to closing, the purchaser substituted a nominee company for himself as the purchaser of the vendor’s property. The vendor on the afternoon of the day

Area, Mistake Discovered After Closing #157

Legally Speaking

By Gerry Neely B.A. LL.B A vendor innocently misrepresents the area of his lot as 10 acres when it is only six acres. If the purchaser relied upon this misrepresentation and discovered the mistake BEFORE completing his purchase, the probability of the purchaser being able to repudiate the contract is high. That probability may be

Norfolk v. Aikens #155

Legally Speaking

By Gerry Neely B.A. LL.B This decision of the British Columbia Court of Appeal led to the distribution among the boards of a two-clause addendum to the Standard Contract of Purchase and Sale. This was done because the reasons for judgment highlighted the distinction between the conveyancing practice through which almost 100% of all real