In a receivership proceeding, a dispute arose between a condominium purchaser and the vendor regarding liability for standard closing adjustments.
The purchaser argued he should be indemnified for borrowing costs, interest, and carrying costs due to the vendor's failure to provide clear title.
The court held that the agreement of purchase and sale expressly precluded any set-off against the purchase price or adjustments.
The purchaser was ordered to pay the closing adjustments, without prejudice to his right to seek indemnity in a separate claim.
