Home sales continued to rise in September
The Canadian Real Estate Association (CREA) reports this morning that national home sales rose 0.9 per cent on a month-over-month basis in September. Actual (not seasonally adjusted) activity was up 45.6 per cent year-over-year. Increases in Ottawa, Vancouver, Vancouver Island, Calgary and Hamilton-Burlington sales were mostly offset by declines in the Greater Toronto Area and Montreal, although the CREA says activity in the two largest Canadian markets is still historically strong.
Elliot, Bethlenfalvy join Ford today
Ontario Premier Doug Ford will be joined by Minister of Health Christine Elliott and President of the Treasury Board Peter Bethlenfalvy at his daily teleconference today at 1 p.m. Minister of Education Stephen Lecce will be making an announcement at 10:30 a.m. in Vaughan.
Vancouver wins CaGBC leadership award
The Canada Green Building Council (CaGBC) announced yesterday it has awarded the 2020 Government Leadership Award to the City of Vancouver’s Real Estate and Facilities Management department. Programs have included LEED Gold Certification since 2004, a zero emission new building policy since 2016, piloting the CaGBC’s Zero Carbon Building Standard and adopting a strategy to measure and reduce embodied carbon in new construction projects.
What contractors should know about liquidated damages: Kennaley
Lexology today carries a post by Robert Kennaley of Kennaley Construction Law providing an update on the law of liquidated damages, deposits and other forfeiture clauses in Ontario. The lawyer says the demise of liquidated damages clauses would have significant consequences for contractors and subcontractors.
Chandos case worth study: Miller Thomson
The same source today also reports on analysis by Miller Thomson on the common law anti-deprivation rule in Canada. In its most recent decision, Chandos Construction Ltd. v Deloitte Restructuring Inc., the Supreme Court of Canada reaffirmed the existence of the rule. Kyla E. M. Mahar and Tamie Dolny write, “This case sheds light on important aspects of the enforceability of certain contract provisions in an insolvency context.”