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Inside Internal Controls

News and discussion on implementing risk management

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contract of purchase and sale

COVID-19 issues: Frustration, subject-to clauses and contracts of purchase and sale

COVID-19 has resulted in a number of issues which put the performance of purchase contracts for real property at risk. Some of the more obvious concerns include reduced cashflows, layoffs, economic slow down, dropping housing prices and general inability to conduct business in ordinary fashion.

 

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Assignment of a contract of purchase and sale: Get it in writing

In the recent case of Guraya v Kaila, 2019 BCSC 101 (CanLII), the Plaintiff’s sought to enforce a verbal assignment of a contract of purchase and sale in the face of vendors refusing to complete with the assignee purchasers.

 

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