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”
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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…
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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…
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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…
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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…
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A Victoria couple’s love of their garden led them to take it with them when they moved…
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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…