The plaintiff, KEB Hana Bank Canada, sued the defendant, Gil Shcoylar, for breach of agreements of purchase and sale (APS) after the defendant repudiated an unconditional offer to purchase three properties and failed to pay a $100,000 deposit.
The defendant argued the agreements were not binding due to alleged lack of signature and that no damages were sustained as the properties were later sold.
The court found the APSs valid and binding, accepting the real estate broker's testimony over the defendant's contradictory denials of signature.
The court ruled that an unpaid, unconditional deposit can be forfeited, awarding the plaintiff the $100,000 deposit.
