The plaintiff sought summary judgment against the defendant for damages arising from an aborted agreement of purchase and sale for a new-build residential property.
The defendant defaulted on the closing date due to an inability to secure mortgage financing.
The plaintiff subsequently relisted the property at a lower price and incurred carrying costs.
The defendant argued misrepresentation regarding assignment and improper refusal to extend the closing date.
The court found no genuine issue requiring a trial, noting that the agreement of purchase and sale had no financing condition, required vendor consent for assignment (which was not obtained), and explicitly stated that time was of the essence.
Summary judgment was granted to the plaintiff for the loss in sale price and incurred expenses.
