COURT OF APPEAL FOR ONTARIO
DATE: 20041014 DOCKET: C41439
RE: ROYAL TRUST CORPORATION OF CANADA (Applicant/ Respondent in Appeal) -and- ROCKCLIFFE PARK REALTY LIMITED (Respondent/Appellant)
BEFORE: McMURTRY C.J.O., MacPHERSON and ARMSTRONG JJ.A.
COUNSEL: Fred E. Seller for the appellant Ian H. Fraser for the respondent
HEARD: October 7, 2004 RELEASED ORALLY: October 7, 2004
On appeal from the judgment of Justice Jean A. Forget of the Superior Court of Justice, sitting without a jury, dated January 28, 2004.
E N D O R S E M E N T
[1] We are satisfied that the motion judge did not err in his conclusion that the Royal Trust Corporation of Canada is entitled to a discharge upon payment to Rockcliffe Park Realty Limited of the sum of $25,000.00 plus interest. Section 93(2) of the *Land Titles Act*, R.S.O. 1990, c. L.5 provides:
- (2) A charge that secures the payment of money shall state the amount of the principal sum that it secures.
[2] In our view, the mandatory language of s. 93(2) dictates the result.
[3] The appeal is therefore dismissed with costs fixed in the amount of $5,000.00, inclusive of disbursements and G.S.T.
"R. McMurtry C.J.O."
"J.C. MacPherson J.A."
"Robert P. Armstrong J.A."