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A recent decision by the Ontario Superior Court provides some clarification on the strict nature of a time is of the essence clause in an agreement of purchase and sale. In Fortress Carlyle Peter S...
Written by J.E. Dennis Daoust and Ken Beallor
(for Lorman Education Services)
The majority of commercial leases are stated to be "net" leases. Whether the lease provides that it is a "net", "net/net lease", "absolutely net" or a "completely net and carefree" lease, the general intent on the part of the Landlord is that except as expressly set out in the lease, the Landlord is not responsible for any costs relating to the Premises while the Tenant is responsible for all such costs.
Read the full article The Latest Word on the Law Affecting Controversial Rent Recoveries
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