Digital Seals on Digital ContractsQuestion:If there is no deposit and the deal is being done electronically the seal in the hard copy is enough to fulfill the consideration as long as all parties have been advised that they are signing under seal? I guess an email explaining this to all parties s...

08/02/2017

Roll-in Dishwasher (Ontario)

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For decades the built-in dishwasher has been considered to be a fixture and that makes good sense.However, about 24 months ago, a new product came to the market, namely the roll-in dishwasher. You can’t really tell the difference just by looking. It plugs into an electrical outlet and the water i...

08/02/2017

The Deposit is NOT Consideration in a Real Estate Deal (Ontario)

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The Deposit is NOT Consideration in a Real Estate DealThe deposit is simply a contract term. It is not consideration. It is not an essential contract element.We have a valid contract, if we have either of two items:1) Seals. or2) ConsiderationThe Courts need to figure out whether there is a...

08/01/2017

More on Contract Formation, Deposits and Seals (Ontario)

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Contract FormationQ: Just to be clear every time the article refers to the deposit not being a part of the contract or consideration is always dependent on whether both parties have affixed seals correct?A: No, a contract requires either “seals” or “consideration, not both. In fact, with the OREA...

08/01/2017

More on Deposits (Ontario)

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Here is some additional commentary on deposits:(1) The purchase price (ex. $500,000.00) is not consideration. (2) The promise to pay the price is the consideration from the Buyer.(3) The promise to convey is the consideration from the Seller,(4) The contract is formed upon acceptance of an O...

08/01/2017