This decision concerns consolidated applications regarding a failed assignment agreement for a pre-construction condominium unit.
The assignees (Trinh) sought the return of their deposit, arguing the agreement was null and void due to the assignor's (2627641 Ontario Inc.) failure to obtain the vendor's consent within the stipulated time.
The assignor counter-argued that the assignees breached the agreement by failing to pay a final deposit, which they claimed was a prerequisite for vendor consent.
The court found that the assignees were not required to pay the final deposit without the vendor's acceptance of the assignment and that the assignor failed to provide clear information regarding uncapped development charges, which was a condition for the assignees.
The court concluded that the assignment agreement became null and void due to the assignor's failure to secure vendor approval, entitling the assignees to the return of their deposit and costs.
