The Plaintiff and Defendants entered an Agreement of Purchase and Sale on May 6, 2022, with a purchase price of $1,080,000 and a closing date of August 11, 2022. The Defendants encountered financing issues due to the failure of their property sale
at 32 Tremely Crescent, leading to the termination of the agreement.
Subsequently, the Plaintiff relisted the property and eventually sold it for a lower price. The Plaintiff claims damages for the difference in sale prices and carrying costs during the period between the failed transaction and the subsequent sale.
Issues:
The Defendants argued against summary judgment and requested a stay of execution until the resolution of third-party claims involving the failed sale of their property at 32 Tremely Crescent.
Analysis and Discussion:
Appropriateness of summary judgment:
Summary judgment is warranted as the Defendants admit liability and damages.
The third-party claims' continuation does not preclude summary judgment, as the issues are distinct.
No risk of duplicative proceedings or inconsistent findings exists.
Stay of execution:
A stay is unwarranted as there is no connection between the main action and third-party claims.
No risk of inconsistent findings is present.
No evidence suggests improper motives by the Plaintiff.
A stay would unfairly prejudice the Plaintiff, delaying enforcement and potentially impacting the Defendants' ability to pay.
Disposition: Summary judgment was granted in favour of the Plaintiff, totalling $122,654.52, plus pre-judgment interest and costs of $12,500 for our client.
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