The purchaser brought a motion for summary judgment seeking return of a $100,000 deposit paid under an agreement of purchase and sale for residential property after the transaction failed to close.
The vendor refused to close unless the purchaser agreed to additional conditions concerning demolition or renovation that were not contained in the agreement.
The court found the vendor’s conduct constituted anticipatory breach and repudiation of the agreement.
The purchaser was therefore entitled to recover the deposit.
In any event, even if the purchaser had repudiated the agreement, the court would grant equitable relief from forfeiture because the vendor resold the property at a significantly higher price and suffered no financial loss.
