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Validity of the legal fee reimbursement clauses in commercial contracts
BUSINESS LAW
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
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…