While it may seem simple to change contract terms, there are important guidelines and principles for REALTORS® to keep in mind when drafting a contract or in making amendment.
Posts tagged with “Time is of the Essence Clause”
Legally Speaking Tips for Using Clauses and Amending Contracts of Purchase and Sale #541 
Legally Speaking Timing is Everything #482
In today’s busy marketplace, there is a greater risk of mistakes being made regarding dates and times in a contract, amendment, or other agreement for the sale or lease of land…
Legally Speaking Object Quickly! #445 
Where time is of the essence, failure to perform an obligation on time is a fundamental breach.
Legally Speaking “Time is of the Essence” Means “Time is of the Essence” #412
Many REALTORS® assist buyers in locating and negotiating the purchase of new condominiums in pre-build situations…
Legally Speaking Duty of Good Faith to Complete Contracts #349
Lawyers used to feel they could confidently advise clients that, if the buyers failed to pay on the closing dates or sellers failed to deliver executed conveyancing documents by those dates…
Legally Speaking Director of a Company – Signing Officer and Guarantor, Sign Twice; Time is of the Essence Clause #347
A cautionary note to licensees preparing a contract for the purchase of property by a limited company, where it is intended the company’s performance of…
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…