Hi everyone,
Welcome back to Three Bullet Thursdays, part of our Title Tips series, from Zinati Kay – Real Estate Lawyers.
As a valued past client or partner, you’ll continue to receive our weekly newsletter, your fast track to essential Ontario Real Estate Law updates. Read three points quickly, or click for more.
With nearly 30 years of experience navigating Ontario Real Estate Law, almost 30,000 transactions closed without a Title Claim, and having been featured in numerous publications, we’re committed to bringing you clear, concise, and relevant information every Thursday.
To know this Thursday:
-
A “Thumbs-Up” Emoji Can Form a Binding Contract. In a Saskatchewan case, a judge ruled that a thumbs-up emoji sent in response to a contract offer constituted a valid acceptance. This highlights the growing legal recognition of digital communication and the importance of clear intent, even in casual exchanges.
-
Being Minutes Late Can Cancel a Contract- 9 Minutes = $113,000 lost! A recent ruling underscored the strict interpretation of contractual deadlines. Even a delay of just 9 minutes in fulfilling a time-sensitive condition (like a deposit/payment delivery) was deemed sufficient to allow a party to terminate the agreement. Punctuality is paramount when dealing with legal obligations in Real Estate.
-
Defaulting on a Pre-Construction Purchase Can Cost More Than Your Deposit. Buyers who fail to close on pre-construction condos or homes were recently held liable not only for their forfeited deposit but also for the difference between their original purchase price and the lower price the builder subsequently sold the unit for, plus other costs. This emphasizes significant financial risks beyond the initial deposit in default scenarios.
Dig Deeper:
https:/
/ www. canlii. org/ en/ on/ onsc/ doc/ 2024/ 2024onsc5776/ 2024onsc5776. html https:/
/ www. canlii. org/ en/ on/ onsc/ doc/ 2022/ 2022onsc6547/ 2022onsc6547. html https:/
/ www. canlii. org/ en/ on/ onsc/ doc/ 2024/ 2024onsc6231/ 2024onsc6231. html
We’re always here to answer your questions and provide guidance. Feel free to reach out to us by phone or email.