Agreement of Purchase and Sale: Time is of the essence clause

In a transaction which failed to close, the Superior Court found the Vendor within their rights to enforce the Time is of the essence clause. The Ontario Court of Appeal dismissed the purchasers appeal agreeing that the Vendor was within their right to enforce the contractual Time of the essence provision.

Correa v. Valstar Homes (Oakville Sixth Line) Inc. 2025 ONCA 156