The purchaser appealed a trial judgment finding the vendor was entitled to a purchase price readjustment of approximately $433,000.
The Court of Appeal dismissed the appeal, agreeing that a rollover credit was an adjustment to the purchase price, not a term of the contract.
The vendor cross-appealed on costs and pre-judgment interest.
The Court allowed the cross-appeal, finding the trial judge erred by applying a $100,000 settlement from the vendor's negligent solicitor entirely as a credit against damages, and instead attributed $50,000 to unrecoverable costs.
The Court also awarded pre-judgment interest from the date of closing, holding that mutual delay in commencing litigation did not justify depriving the vendor of interest.