Brian's Ontario Real Estate Blog

Commercial Real Estate Agent - RE/MAX West Realty Inc., Brokerage (Toronto)



Question:Consideration must be made at the time of contracting in order to have a valid contract.Answer:Here, if the document is under seal, this would eliminate the requirement of consideration. So, truly consideration would not be required.
Question:Consideration must be adequate to satisfy the demands of the other party.Answer:Courts do not quantify the extent of the consideration between the parties. Whatever it is will be deemed sufficient. So “adequacy is never measured”.
Question:The deposit paid by buyers is a sign of good faith and not a full amount of consideration. Answer:The deposit is not consideration at all. It’s not part consideration, and it is not required under the terms of a contract.So, the deposit is however “a sign of good faith”. That part is qui...
Question:Both parties to the contract must receive something of value as consideration.Answer:That’s really not true. A person who executes a document under seal would be bound to the contract. That person need not receive nor give any consideration.
Removal of Copper Electrical Wiring to Hot TubQuestion:The Buyers wanted the hot tub in the back yard, but the Seller excluded it. Ten days after completion, someone entered their yard and ripped the copper connecting cable, about 30 feet long, out of the grass, cut it at the wall and plugged it ...
There Are No Electronic Witnesses in OntarioQuestion:Why are some agents witnessing by e-signatures their client's e-signatures? Unless you are actually there with the client in person signing it on a tablet together! I know that was not the case on all of them. A witness is still an actual witne...
Commercial Bond Yields   CMB         GoC         Floating RateInsured Cost of Funds 5 Year - 2.00%CANHOU 12/15/22 [-]       5 Year - 1.68%CAN 1.0 09/01/22 [+0.01]       1.30%                     [-]                       5 Year - 2.06%*CANHOU 06/15/23    [-]                                      ...
Lawsuits and Contingency FeesLawyers often charge 15% to 35% fees computed on the total settlement of a client’s claim. This is the “if you don’t win, you don’t pay” advertisement that you see.This seems helpful for those who cannot afford to hire a lawyer. Traditionally, a lawyer was retained on...
 Agreement of Purchase and Sale: A Detailed Analysis  This program deals with the standard form agreement on a clause by clause, line by line and word by word basis. This is the most important document that the agent uses, and consequently, every agent needs to know just exactly what the document...
Commercial Bond Yields   CMB         GoC         Floating RateInsured Cost of Funds 5 Year - 2.01%CANHOU 12/15/22 [+0.02]       5 Year - 1.68%CAN 1.0 09/01/22 [+0.02]       1.30%                     [-]                       5 Year - 2.07%*CANHOU 06/15/23   [+0.02]                               ...

Brian Madigan

LL.B., Broker
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