Can a vendor cancel an agreement where a purchaser defaults and all moneys paid under the agreement are forfeited to the vendor?
Alberta, Canada
The following excerpt is from Wimpey (George) Canada Ltd. v. Groveridge Imperial Properties Ltd., 1985 CanLII 1235 (AB QB):
In Mayson v. Clouet the agreement provided that if a purchaser defaulted the vendor was at liberty to cancel the agreement and all moneys paid under the agreement should be forfeited to the vendor. The purchaser defaulted and by letter the vendor cancelled the agreement.
"The most advanced legal research software ever built."
The above passage should not be considered legal advice. Reliable answers to complex legal questions require comprehensive research memos. To learn more visit www.alexi.com.
Other Questions
Can an assignee or assignee of a vendor under a conditional sales contract, and if so, what are the consequences if the vendor decides to cancel the contract? (Alberta, Canada)
In what circumstances will a vendor be held to his contractual right to retain his purchase-money? (Alberta, Canada)
Is a vendor entitled to a vendor’s lien if he takes a mortgage back to secure the balance of the purchase price? (Alberta, Canada)
Can an agreement by the parties of Fort McMurray (City) and the Agreement of Agreement give the parties the authority to set up an enforcement board? (Alberta, Canada)
Is a vendor required to deliver a transfer before the purchaser can tender the purchase? (Alberta, Canada)
Does a vendor make representations as to the maturity date of a mortgage that is not being assumed by the purchaser, but is later than represented? (Alberta, Canada)
Can a vendor be held liable on a promise not to deliver a parcel to the vendor in spite of the Village Council’s refusal to do so? (Alberta, Canada)
Can a party who signed an agreement for sale against the estate of a deceased vendor for an undivided one-half interest in a property be allowed to enter into the record of the transaction? (Alberta, Canada)
Can a vendor's silence or misstatement to a purchaser of a latent defect amount to a misrepresentation? (Alberta, Canada)
Can a written agreement be enforced if the written agreement is not executed? (Alberta, Canada)
