1 total
The Court of Appeal upheld a summary judgment awarding damages to sellers for a failed real estate transaction.
The appellant appealed a summary judgment award of $366,513 in damages arising from a failed real estate transaction.
The appellant had waived the financing condition in an agreement of purchase and sale for $1,252,500 but failed to close due to lack of financing.
The respondents subsequently sold the property for $965,000.
The motion judge found the respondents had taken reasonable steps to mitigate their damages by refusing the appellant's subsequent offer to purchase at a lower price, particularly given the appellant's prior default and lack of proof of financing.
The Court of Appeal upheld the decision, finding no errors in the motion judge's legal analysis or assessment of evidence and no basis for interfering with the denial of the adjournment request.
