Legally Speaking Assignee Beware #538

Assignees in a sale should be sure to conduct their own due diligence, regardless of the due diligence previously conducted by the buyer/assignor.

Legally Speaking Buyers Must Beware #465

A recent Provincial Court decision was an excellent example of how BC higher court judgments are applied to the factual problems that arise between buyers and sellers…

Legally Speaking Caveat Emptor and Seller’s Lack of Knowledge of a Latent Defect #383

A Supreme Court judge concluded the following advertisement by a representative for the sale of a lot implied a warranty that the buyer could commence construction of a house without unusual expense or building…

Legally Speaking Title Insurance – Part 2 of 3 #322

A lender’s policy, whether residential or commercial, contains the basic risks plus a broader coverage than is provided in the buyer’s…

Legally Speaking Lease – Renewal, No Renewal Agreement, Initial Lease Terms Binding Upon Tenant; Operating Expenses Not Defined and Therefore Uncertain; UFFI – Damages for Breach of Warranty #278

The omission of wording in a lease renewal clause that the renewal would be void if the parties were unable to agree upon the renewal terms, led to some surprising results, at least for the tenant…

Legally Speaking Implied Warranty – Purchase of an Incomplete New Residence #226

When a buyer contracts to purchase a residence before construction of it is complete, the law implies a warranty in favour of the buyer that the work will be done in a good…

Legally Speaking UFFI Warranty #175

A recent edition of the Bulletin contained a reminder that because of the risk of liability, licensees should not complete the UFFI disclosure statement on the standard Contract of Purchase and Sale…

Legally Speaking Area, Mistake Discovered After Closing #157

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…

Legally Speaking UFFI WARRANTY – Vendor Warrants That the Building Does Not Contain Urea Formaldehyde Foam Insulation #134

This is a common warranty given either at the request of the prospective purchaser, or of the mortgage company considering an application by the purchaser for financing…

Legally Speaking Liability for Both a Limited Company and the Employee, Resulting From the Actions of the Employees #14

A recent case illustrates the liability which may attach to both a limited company and the employee of the limited company, resulting from the actions of the employees…

Legally Speaking Clauses in the Offer to Purchase #8

The Offer to Purchase used by the Multiple Listing Service of the Victoria Real Estate Board contains the following clauses:” . . . Balance of cash payment to be deposited in trust by the purchaser by 5 p.m. on…