TABLE OF CONTENTS. Table of Cases...xi. Introduction...1

Transcription

1 TABLE OF CONTENTS Table of Cases...xi Introduction...1 Chapter1: The Agreement of Purchase and Sale...5 The Classification of Statements in a Contract Introduction... 5 The Nature of the Major Remedies... 6 Contract Statements as Promises... 9 The Classification of Misrepresentations The Cause of Action for Rescission Negligent Misrepresentations The Hierarchy of Promises and Representations Distinguishing Conditions as Contingencies and as Promises The Nature of Conditions Precedent Turney v. Zhilka and the Birth of the True Condition Precedent The Development of the Law of True Conditions Precedent Dynamic Transport Ltd. v. O.K. Detailing Discretionary Conditions Precedent An Illustration of the Importance of Contract Term Classification Contract Terms and Caveat emptor Introduction Merger, Doctrine of Equitable Conversion and Closing a Transaction Merger, Caveat Emptor, Fraser-Reid v. Droumtsekas, and Nesbitt v. Redican Nesbitt v. Redican Fraser-Reid v. Droumtsekas, Continued Current Law on Caveat Emptor Caveat Emptor Case Law Exceptions to Caveat Emptor Disclaimer Clauses and Exculpatory Provisions v

2 Real EsateTransactions Lord Denning s Debunked Theory of the Fundamental Breach Tercon Contractors Ltd. v. B.C. and Exculpatory Provisions Chapter 2: Transfer of Title...65 The Problematic of the Transfer of Title The Statute of Frauds A Description of the Standard Form Agreement of Purchase and Sale A Digression about How Purchasers Pay the Purchase Price The Standard Form Agreement of Purchase and Sale, a Description Continued The Title Provision of the Agreement of Purchase and Sale The Obligation to Convey Good and Marketable Title Patent and Latent Defects and Title Objection The Stieglitz Case Stefanovska v. Kok The Contextuality of Materiality LeMesurier v. Andrus The Vendors and Purchasers Act Types of Title Requisitions Majak Properties Ltd. v. Bloomberg The Rescission, Annulment, or Cancellation Clause Latent and Patent Defects of Title and of Quality Tony s Broadloom and Floor Covering Ltd. v. NCM Canada Ltd Disclosure of Defects and Exceptions to Caveat Emptor Lessons from Phinny v. Macaulay Chapter 3: Real Estate Agents The Role of Real Estate Agents The Statutory Regulation of Real Estate Agents The Law s Regulation of Real Estate Agents The Fiduciary Obligations of a Real Estate Agent D Atri v. Chilcott Code of Ethics The Watershed Case of Knoch Estate v. Jon Picken Ltd Phillips v. R.D. Realty Ltd The Relationship between the Vendor s Agent and the Purchaser Olsen v. Poirier vi

3 Table of Contents Claims against Vendor s Agents and Vendors The Relationship between the Purchaser and its Agent, Continued Soulos v. Korkontzilas Calandra v. B.A. Cleaners Ltd Jung v. Ip Krawchuk v. Scherbak Chapter 4: The RegistryAct Introduction to the Registry Act The Registry Act Problematic The Registry Act Solution Constructive and Actual Notice under the Registry Act Overriding Interests and Special Cases Sheltering Investigation of Title under the Registry Act Battison v. Ferrell Ontario Hydro v. Tkach Fire v. Longtin Ontario Inc. v. Ramsay Chapter 5: The LandTitles Act Introduction to the Land Titles Act The Nature of Title under the Land Titles Act Boundaries under the Land Titles Act Actual Notice under the Land Titles Act United Trust Co. v. Dominion Stores Actual Notice under the Land Titles Act, Continued Bank of Montreal v. Smith Subsequent Registrations The Treatment of Frauds and Forgeries under the Land Titles Act Lawrence v. Wright Amendments to the Land Titles Act to Address Fraud Durrani v. Augier Toronto-Dominion Bank v. Jiang Rabi v. Rosu Home Trust Co. v. Zivic Chapter 6: The Planning Act Introduction to the Planning Act vii

4 Real EsateTransactions Control of Subdivision under the Planning Act The Scheme for Subdivision Control The Planning Act Reference Case Planning Act: Example Problems The Prospective and the Retrospective Operation of the Planning Act Planning Act: More Example Problems Curative Provisions Chapter 7: Remedies Remedies for Abortive Real Estate Transactions The Anticipatory Breach Johnson v. Agnew The Measure of Damages Main Street Ltd. v. W.B. Sullivan Construction Calculations of Damages: Examples Main Street Ltd. v. W.B. Sullivan Construction, Continued The Role of the Deposit Purchasers Damage Claims Examples of Purchaser s Claim for Damages The Anticipatory Breach Problem Other Heads of Damages Advantages and Disadvantages of Specific Performance Paradigm Shift: The Availability and Effect of Specific Performance Domowicz v. Orsa Investments Ltd The Future of Specific Performance Ontario Ltd. v. Rimes Semelhago v. Paramadevan Cases after the Paradigm Shift John E. Dodge Holdings Ltd. v Ontario Ltd Southcott Estates Inc. v.toronto Catholic District School Board Time of the Essence The Rule from King v. Urban & Country Transport Ltd Tender Domicile Developments Inc. v. MacTavish Synopsis viii

5 Table of Contents Chapter 8: Mortgage Remedies The Equity of Redemption and the Development of Mortgage Remedies Taking Possession of the Mortgaged Premises The Private or Contractual Power of Sale Section 6(1) of the Land Registration Reform Act Second Mortgages Comparative Advantages and Disadvantages of Mortgage Remedies Comparing Sale with Foreclosure Bank of Nova Scotia v. Dorval Sale after Foreclosure Discharges the Debt Action on the Covenant Griffin v. Gibbons Ongoing Liability and Novation Malaviya v. Lankin Financeamerica Realty Ltd. v. Holloway National Trust Co. v. Fuciarelli Examples of the Exercise of Mortgage Remedies Examples involving Second Mortgages Power of Sale Service of the Notice of Power of Sale Moratorium During Redemption Period Assignment of the Mortgage after Notice of Sale Resort to the Security The Anti-Acceleration Provisions of the Mortgages Act Taking Possession of the Mortgaged Premises Completing the Power of Sale and the Standard of Care Impeaching the Power of Sale and Professed Compliance Professed Compliance and Botiuk v. Collison Chapter 9: Lawyer s Professional Responsibilities, Dutyof Care, and Fiduciary Duties Lawyer s Professional Responsibilities: Introduction General and Special Retainers Joint Retainers When Independent Legal Representation is Required When Independent Legal Advice is Recommended When Independent Legal Representation or Independent Legal Advice is Required ix

6 Real EsateTransactions Duties to Clients Duties to Non-Clients Conflicts of Interest Solicitor s Negligence Claims Outaouais Synergest Inc. v. Keenan Lawyer s Fiduciary Duties Strother v Canada Inc Breaches of Fiduciary Duty Doing Business with a Client Bibliography Index x