Common Contracts
1 similar Agreement of Purchase and Sale contracts
The Canadian Abridgment eDigests -- Real PropertyAgreement of Purchase and Sale • May 3rd, 2021
Parties entered into agreement for purchase and sale (APS) of commercial property (lands) in 2011 and agreed that defendant vendor would lease back property for period of three years -- Plaintiff purchaser decided to redevelop lands and during excavation, discovered hazardous substances were on lands -- Purchaser incurred costs and expensed in order to remediate lands and dispose of hazardous substances -- It was undisputed that source of hazardous substances was historic imported fill that preceded vendor’s ownership of lands by several decades and there was no evidence that vendor had any knowledge about presence of hazardous substances on lands at time of APS -- Representation and warranty clause 6(r) in APS read that lands had "never been used to manufacture, refine, handle, store or dispose of any hazardous substance, [ . . . ] and do contain, nor to knowledge of Vendor have ever contained any hazardous substance" -- Purchaser applied for summary trial seeking determination of int
