The New Limitation Act and Demand Promissory Notes
When family members enter into financial arrangements with each other, there is often a hesitation to document those arrangements. Therefore, many choose to document loans between family members and friends by using Demand Promissory Notes. A Demand Promissory…
Who keeps the Deposit when the Purchaser fails to complete?
A recent Court of Appeal judgement, Tang v. Zhang, has moved towards clarifying the law surrounding the forfeiture of deposits in British Columbia real estate transactions when the purchaser fails to complete. The case in question involved a…