Common Contracts
1 similar null contracts
Novacrete Construction Ltd. v. Profile Building Supplies Inc.March 8th, 2012
Action by Novacrete for monies owing on a lease and damages to premises. It claimed against Profile Building, Profile Woodworking, Profile Tile and Valente. The defendants counterclaimed for a declaration that the lease was forfeited and for damages. A lease was in effect between Novacrete and Profile Building until April 1995. In May 1992, Valente, the principal of Profile Building, approached Novacrete and sought a reduction of rent because of cash flow problems. Novacrete said it agreed to a temporary reduction but never waived its right to the balance owing under the lease. From June to October 1992, Profile Building paid the reduced rate. Profile Building rented other premises in August. Valente advised Novacrete in September that he could not carry on the lease and that he should look for a new tenant. In October, Novacrete advised that arrears were owing for the previous months. Novacrete noticed movement between the two locations in November and concluded on November 25 that Pr
