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When a default occurs, the mortgagee, or lender, has the right to accelerate the mortgage payment or seek specific performance or damages. They can also sell the property to repay their debt. If the sale proceeds are less than the mortgage debt, the mortgagee can sue the borrower for the deficiency. If the sale results in a surplus, the mortgagee must pass it on to the next encumbrancer or the borrower.

Letters of credit (LC) and bank guarantees are financial tools used to secure payment obligations. However, they differ from regular guarantees in terms of the defences against payment demands. An LC is simply an agreement to pay under certain conditions, and the law governing LCs is determined by the national jurisdiction where the LC is issued.

In Ontario, a program, known as the Whistleblower Program, was made available for public comment in 2015 and includes a confidential submission process for individuals to provide information to the OSC. In contrast, whistle-blower protection laws in the United States have a long history dating back over 150 years.

As the world becomes more connected, it’s becoming more common for Canadians to spend extended periods of time outside of Canada. With careful planning, it’s possible for Canadians to cease being a resident for Canadian income tax purposes, without giving up their Canadian citizenship.

In Ontario, when someone is accused of making a defamatory statement, they may have eight different defences available to them.

Rule 21 of Ontario’s Rules of Civil Procedure is a mechanism for dealing with situations where a claim brought by a plaintiff is clearly of a kind for which no legal relief is available or where the defence submitted by the defendant is not valid. The rule allows for the determination of certain preliminary issues that may dispose of a legal proceeding without the need for a trial to avoid delays and ensure that issues are disposed of promptly and in accordance with the Rules.