The appellant purchaser appealed a summary judgment granting damages to the respondent vendors for a failed real estate transaction.
The Court of Appeal dismissed the appeal, finding no error in the motion judge's decision.
The Court held that due to the 'time of the essence' provision, the vendors were not obligated to extend the closing date.
Furthermore, because the purchaser failed to tender funds after the closing date, he could not claim the vendors failed to mitigate by not completing the transaction with him.
The vendors' mitigation steps were deemed reasonable.
