What is the test for a “time is of the essence” provision in real estate law?
Ontario, Canada
The following excerpt is from 1672370 Ontario Limited v. D. Narducci Holdings Inc., 2009 CanLII 53156 (ON SC):
The Court of Appeal in King v. Urban & Country Transport Ltd. held that when both parties are in default of a “time is of the essence” provision and one of the parties wishes to reinstate the provision, that party must “serve a notice upon the other party, fixing a new date for closing, which must be reasonable, and stating that time is to be of the essence with respect to the new date.”[15]
"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
Does the Estate of Yehuda's Estate have to prove that there is a likelihood that the Estate will be able to claim severance? (Ontario, Canada)
Can a vendor rely on a "time of the essence" provision to terminate a contract? (Ontario, Canada)
What is the status quo of parenting time between a father and his partner's parenting time? (Ontario, Canada)
Can a court top up the costs awarded to a deserving estate trustee against an unsuccessful estate? (Ontario, Canada)
Is there any basis to interfere with a testator's choice of the respondents as estate trustees of his estate? (Ontario, Canada)
What is the test for a contract where there is no "time is of the essence" clause in the contract? (Ontario, Canada)
Does time spent in jail as a result of a conviction and sentencing in the United States include time served in jail in Canada? (Ontario, Canada)
How have the courts interpreted the provisions in the closing deed of a real estate transaction? (Ontario, Canada)
Is there any case law that supports the argument that in the context of "extraordinary times” are extraordinary times? (Ontario, Canada)
Can an estate or estate trustee be sued for unjust enrichment, constructive trust and alternative remedies? (Ontario, Canada)
