Revocation involves withdrawing an offer before a binding contract is formed, bringing legal risks for REALTORS®. It’s crucial to seek guidance from your managing broker and ensure your client seeks legal advice.
Posts tagged with “Counter-offers”
Legally Speaking Revocation of Offers #563 
Legally Speaking The Seller Wants Out—Notice of Acceptance of Offer Given to Spouse #420
When a party wants out of a deal, they often ask their lawyer to review the contract and the circumstances surrounding its making to see if they have a basis for getting out of it…
Legally Speaking Buyer’s Agent Failure to Advise of Amendment in Counter-Offer #362
An Ontario buyer’s agent, who submitted an offer to the seller’s agent, discovered the importance of carefully examining the seller’s counter-offer for amendments the hard way, at a personal cost of $50,000…
Legally Speaking Timing (For Closing, For Payment of a Deposit, or Acceptance of a Counter Offer) #202
The Ontario practise of closing transactions differs from the practise in British Columbia, but the comments made by a judge in a case where a vendor was seen to be trying to…
Legally Speaking Counteroffer – No Date for Acceptance by Purchaser; No Listing Contract for the Sale of Shares #154
Murphy’s law – if something can go wrong it will, and then get worse – doesn’t always lead to litigation, but when it does, it often highlights a useful practice point…
Legally Speaking Garden Removal – Damages; Oral Revocation of a Counteroffer #137
A Victoria couple’s love of their garden led them to take it with them when they moved…
Legally Speaking Licensee’s Authority to Bind His Principal #30
Two recent decisions illustrate the extent to which a licensee can create a binding contract of sale by a vendor, in circumstances where the vendor argued that the licensee had acted without authority…