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Validity of the legal fee reimbursement clauses in commercial contracts

On April 6, 2021, in Bank of Nova Scotia v. Davidovit, the Québec Court of Appeal confirmed the validity of the clause in a contract of personal guarantee (or suretyship) for a commercial loan which provides that the guarantor is liable for…

THE FORFEITURE OF RESOLUTORY CLAUSES IN PROPERTY SALES CONTRACTS

BUSINESS LAW, REAL ESTATE LAW

The resolutory right is a common guarantee withing the framework of the balance of sale price during an acquisition. It is often used to secure a non-monetary obligation of the buyer. This right is granted to the seller and gives him the right…

The outcomes of the enactment of Bill No. 78 An Act mainly to improve the transparency of enterprises

BUSINESS LAW, REAL ESTATE LAW, TAXATION

On June 3, 2021, the Government of Québec passed its Bill 78 An Act mainly to improve the transparency of enterprises, which will effectively amend the Act respecting the legal publicity of enterprises (the "Act"). In…