3 total
Resale price to an arm's length purchaser is the presumptive fair market value for calculating damages.
The respondents failed to close a residential real estate transaction, and the appellants (vendors) sued for breach of contract.
At trial, the judge awarded damages based on an appraiser's assessment of fair market value rather than the actual resale price, finding the appellants failed to mitigate their damages.
The Divisional Court allowed the appeal, holding that the trial judge erred in law by bypassing the resale price as the presumptive fair market value and by relying on expert evidence that exceeded the appraiser's qualifications regarding marketing practices.
The Court awarded damages based on the difference between the original contract price and the resale price, plus certain expenses and legal fees.
Tribunal awards $207,644 for expropriation and business losses, preferring respondent's expert evidence over claimant's.
The claimant sought compensation for the expropriation of portions of its properties by the City of Windsor for a road improvement project.
The claimant claimed damages for the value of the lands taken, injurious affection, and business losses.
The Tribunal preferred the expert evidence of the respondent's real estate appraiser and business valuator over the claimant's experts, finding the claimant's experts' reports flawed and unsupported.
The Tribunal awarded the claimant $194,000 for the market value of the lands and injurious affection, and $13,644 for business losses, for a total compensation of $207,644.
The court dismissed the minority shareholders' oppression and conspiracy claims regarding a commercial property dispute.
This protracted litigation involved a family dispute over a commercial property, with plaintiffs (minority shareholders and creditors) alleging oppression and conspiracy against defendants (majority shareholders, directors, and related entities).
The plaintiffs claimed the defendants engaged in self-dealing and unlawful acts to deprive them of their beneficial ownership and profits.
The court dismissed both the oppression and conspiracy claims, finding that the plaintiffs failed to establish their reasonable expectations were violated or that an unlawful conspiracy occurred.
The court noted the plaintiffs' own conduct demonstrated a lack of regard for the corporation's welfare and a failure to protect their interests.
A counterclaim by one of the defendants was also dismissed.