Paul Kressock Quoted in Law360 Canada Article on BC Court of Appeal Contract Enforceability Case
Lawson Lundell lawyer Paul Kressock was quoted in an article by Law360 Canada about a recent case before the BC Court of Appeal which "upheld a decision finding that a one-page document setting out the proposed terms for the sale of a property was not an enforceable contract for purchase and sale."
The article discusses the judge's decision, which Paul identifies as a cautionary tale for parties who sign a term sheet before they intend the deal to become legally binding. “Where a signed term sheet does not expressly state that the agreement is non-binding, or is subject to the execution of a final contract, this creates a risk that one party may argue later that the term sheet is indeed binding and amounts to an enforceable contract," Paul said.
Read the full article here.