The respondent purchaser agreed to buy a house from the appellant vendor.
The vendor reneged on the agreement before the closing date.
The purchaser sued for specific performance or damages in lieu thereof.
At trial, the purchaser elected to take damages.
The property value had increased significantly by the time of trial.
The Supreme Court of Canada held that damages in lieu of specific performance should be assessed as of the date of trial, not the date of breach, to provide a true substitute for specific performance.
The Court also held that the increase in value of the purchaser's own unsold residence should not be deducted from the damages award.
