Brian Madigan LL.B., Broker
BRMadigan@Rogers.com

RE/MAX West Realty Inc.,
Brokerage
Independently owned and operated

96 Rexdale Blvd. 
Toronto, Ontario 


Phone: 416-745-2300

Cell: 647-404-8150 
Toll Free: 1-888-507-0817

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Posts filed under: Deposits

3 Reasons for the Deposit

August 20, 2018 - Updated: August 20, 2018Deposits

3 Reasons for the Deposit The deposit is not consideration in a transaction. It’s not like the nominal “$2.00 and other good ...

Tagged with: deposits three reasons purpose ontario law

Deposit is Irrelevant to Contract Formation

April 3, 2018 - Updated: April 3, 2018Deposits

Deposit is Irrelevant to Contract Formation The concept of a deposit is irrelevant to contract formation. It is just purely and simply ...

Tagged with: contract formation deposit not necessary not consideration ontario law

The Basic Law about Deposits in Ontario

March 26, 2018 - Updated: April 3, 2018Deposits

The Basic Law about Deposits in Ontario Although the issue comes up from time to time, the leading case on the subject of deposits is De ...

Tagged with: deposits forfeiture breach damages remedies exceptions de palma runnymede redstone howe v. smith ontario law

Is a Deposit Consideration for a Contract?

February 18, 2018 - Updated: February 18, 2018Deposits

Is a Deposit Consideration for a Contract? This question keeps coming up, so let’s have a look at it. There are a few thin ...

Tagged with: deposit consideration contract creation formation performance ontario law

Get the Deposit Paid even with an Uncertified Cheque

September 3, 2017 - Updated: September 3, 2017Deposits

Get the Deposit Paid even with an Uncertified Cheque Payment of the deposit is a “key” component in most agreements. If it&r ...

Tagged with: deposit cheque uncertified delivered no nsf proof good deposit ontario law preiano v. cirillo

The Deposit is NOT Consideration in a Real Estate Deal

July 31, 2017 - Updated: July 31, 2017Deposits

The Deposit is NOT Consideration in a Real Estate Deal The deposit is simply a contract term. It is not consideration. It is not an esse ...

Tagged with: deposits consideration contract formation ontario law

Deposit Forfeiture Upheld By Court of Appeal (Redstone)

May 7, 2017 - Updated: June 15, 2017Deposits

Deposit Forfeiture Upheld By Court of Appeal (Redstone) Redstone Enterprises Ltd. sold its warehouse in Brantford to Simple Technology I ...

Tagged with: depsits redstone ontario court of appeal forfeiture 7 reasonable not unconscionable ontario law

Magician's Deposit Clause

December 11, 2016 - Updated: December 11, 2016Deposits

The Magician’s Deposit Clause A few Brokerages have been using a clause which they find helpful. From time to time a Buyer decid ...

Tagged with: deposit magician disappears no deposit delayed deposit orea ontario law

Returning the Deposit in a Failed Transaction

November 29, 2016 - Updated: November 29, 2016Deposits

Brian Madigan LL.B., Broker Returning the Deposit in a Failed Transaction What documents do you need? You are goin ...

Tagged with: deposits mutual release direction reco advice ontario law

Suing for the Unpaid Deposit

May 11, 2016 - Updated: May 11, 2016Deposits

Suing for the Unpaid Deposit Bob submits an Offer on Bill’s property for $890,000 with a $50,000.00 deposit, which Bill accepts. ...

Tagged with: deposit unpaid no proof of damages automatic judgment ontario law

30 Rules of Deposits

May 10, 2016 - Updated: May 10, 2016Deposits

Deposit Issues - 30 Basic Rules A deposit is not required to make a contract enforceable A deposit is a sign of good faith A ...

Tagged with: deposits 30 rules orea rebba 2002 breach ontario law

A Safer Deposit Clause for Vendors

July 28, 2014 - Updated: July 28, 2014Deposits

Deposit Payment Protection Clause for Vendors Sometimes the deposit is just not paid. I know that it’s supposed to be paid. ...

Tagged with: deposits standard form agreements option to terminate failed deposit no payment

Deposit – The Law Reviewed

October 23, 2013 - Updated: October 23, 2013Deposits

The British Columbia Court of Appeal recently released its decision in Tang v. Zhang, a case about real estate deposits. Previously, we looked a ...

Tagged with: tang v. zhang deposit law british columbia

Deposits ~ A Primer

October 22, 2013 - Updated: October 22, 2013Deposits

The British Columbia Court of Appeal recently had to consider the forfeiture of a deposit in a real estate transaction. Here’s t ...

Tagged with: deposit real estate transaction buyer default forfeit no penalty

When Must the Deposit Cheque be Deposited in the Bank?

May 6, 2013 - Updated: May 6, 2013Deposits

Featured QUESTION: Salesperson Smith prepares an offer for $435,000 on a property located in Toronto, Ontario, on behalf of Buyer Jone ...

Tagged with: deposits delivery upon acceptance brokerage bank

Two Reasons for the Deposit

February 14, 2013 - Updated: March 1, 2013Deposits

Two Reasons for the Deposit Ontario Real Estate Source By Brian Madigan LL.B. There are actually two ...

Tagged with: deposit secuirty pre-estimate of damages ontario law article

Brian Madigan LL.B. Broker

RE/MAX West Realty Inc. Brokerage

Independently owned and operated

96 Rexdale Blvd. , Toronto Ontario,

Phone: 416-745-2300

BRMadigan@Rogers.com

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