The plaintiff parents brought a motion for summary judgment against their defendant son for defaulting on a 1992 farm transfer agreement.
The son had agreed to purchase the family farm and related assets via promissory notes payable over 20 years, but ceased making payments in 2010.
The son raised defenses of contractual ambiguity, lack of understanding, and the expiry of the limitation period.
The court granted summary judgment, finding the contract unambiguous, noting the son had independent legal advice, and ruling that the limitation period for the delayed-demand promissory notes only began when the parents made a formal demand in 2013.
The plaintiffs were awarded $532,337.16.