The parties entered into an agreement of purchase and sale for a commercial condominium. The agreement provided that if the purchase defaulted, the deposit funds were forfeited to the vendor as liquidated damages. The precise closing date was left to the vendor to set. The purchaser paid deposits totaling $40,000, and a further $31,999.50 on… Continue reading 2336574 Ontario Inc. v. 1559586 Ontario Inc., 2016 ONSC 2467