Minimum deposit required $4,420 and 19.8 cents, actual proffered deposit $4,420 and 19 cents even, result: misery. After the tax auction of a piece of Ontario vacation land, a rival successfully challenged the high bid on the grounds that it should have included a deposit that was eight-tenths of a cent higher. We’re all in favor of formalism in the law, but… (Paul Waldie, “A penny saved . . . is a cottage lost”, Globe and Mail, Jun. 5).
Change of a penny proves bid’s legal undoing
Minimum deposit required $4,420 and 19.8 cents, actual proffered deposit $4,420 and 19 cents even, result: misery. After the tax auction of a piece of Ontario vacation land, a rival successfully challenged the high bid on the grounds that it should have included a deposit that was eight-tenths of a cent higher. We’re all in […]
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