The question of “When is a Deposit a Deposit?” is one of the two most significant ramifications of the risk of transactions collapsing. The second question is whether or not a seller may sue for damage. The two alternatives are not mutually exclusive, and the second option for home sellers is covered in this article. What property sellers may do…
The process of purchasing or selling a business is comparable to the process of making other significant purchases or sales in one’s lifetime. Sellers want to be transparent with possible purchasers about the business they are selling, and buyers want to have a complete understanding of the business they are buying. A QUESTION OF PURCHASE Due diligence and the acceptance…
Many British Columbians are making the decision to purchase a unit in a development that is not yet constructed. This decision is usually the largest purchase a person will make in their lifetime and is often both an exhilarating but also nerve-wracking experience. And while there are advantages to “purchasing pre-sale” there are also some risks and other issues that…
Some employees are hired pursuant to a verbal contract of employment. For others, the terms of the contract are set out in a formal written agreement. Written or oral, the agreement between employer and employee is a contract. If some terms of the agreement are uncertain, then basic rights and obligations are implied at law. In addition, all employment agreements…
Joint ventures (JV) are quite common when two or more parties want to start a new project or reach a particular goal. However, prior to entering such an agreement, it’s important that each venturer is protected. By outlining each partner’s expectations in the beginning, they’ll most likely avoid conflict down the road. The goal is to protect each individual’s business…
Courts are responsible for determining whether non-compete and non-disclosure agreements are enforceable. This is because employee mobility is high with employees seeking different opportunities and consequently, employers seeking security. In terms of employment, non-compete and non-disclosure agreements are legal instruments that restrict the actions of an employee. These restrictive covenants essentially protect the well-being of a company. For example, former…
The consequences of the COVID-19 pandemic have been wide reaching, especially for the energy sector. It has, and continues to, experience unforeseen challenges to its daily operations. For example, closures, employees quarantining or self-isolating, and disrupted supply chains. These difficulties have only been exacerbated by unprecedented declines in oil prices. As a result, it’s reasonable to assume that many oil…
Without a doubt, Canada is facing a significant slowdown due to the novel coronavirus or COVID-19. Businesses have shut down, international supply chains have been disrupted, international travel has slowed, and borders have closed. The pandemic has had, and will continue to have, unprecedented effects on the global economy. Ultimately, this will leave many individuals and businesses unable to follow…
In some cases, buyers may change their minds or realize that they are no longer financially able to follow through with their purchase. However, reneging has proven to be quite expensive and stressful. Therefore, it is important that buyers are well aware of what they are getting themselves into and the terms by which their offer is based on. An…
The “accumulation years”, the time you spend on working and acquiring assets for both your personal and financial future use. During this period, you pursue your interests and donate to charities, own businesses, invest in stocks, and purchase property. Regardless of the type of assets you possess, you will most likely want them protected and deliberately distributed amongst your beneficiaries…