The Plaintiffs brought a motion for summary judgment seeking damages from the Defendants for breach of an Agreement of Purchase and Sale (APS) for a property.
The property was subsequently sold to the Defendants under a July 7, 2022 Extension Agreement.
The central issue was the interpretation of a clause in the Extension Agreement that reserved the Plaintiffs' right to sue for damages for "failure to close on the scheduled closing date." The Plaintiffs argued this referred to the original APS closing date, while the Defendants contended it referred to the extended closing date.
The court, applying principles of contractual interpretation, found that the "scheduled closing date" referred to the extended closing date, meaning the Defendants were released from liability for the original breach if they closed on the extended date.
The Plaintiffs' motion for summary judgment was dismissed, and summary judgment was granted in favour of the Defendants.
