The court considered an application by Basil Basnandan for a declaration that the purchasers, Michael A. Jones and Delphina Mervin Leblanc, were in breach of an agreement of purchase and sale for a commercial property, and for an order directing the broker, RE/MAX Hallmark Eyking Group Realty, to release the $200,000 deposit to him.
The purchasers failed to complete the transaction due to inability to secure financing.
The court found an anticipatory breach, held that Basnandan was entitled to terminate the agreement, and ordered the deposit released to him.
The court also addressed the commissioning of affidavit exhibits, the law of forfeiture and relief from forfeiture, and awarded partial indemnity costs to Basnandan.