Background: A dispute over a failed real estate transaction led to litigation, which was eventually settled by the parties.
Parties Involved: Bradley Archibald Sumarah and Robert Steven Andrew Clarke (Plaintiffs) vs. International Property Group (Toronto) Limited (Defendant).
Facts: The plaintiffs sued the defendant for breach of contract after a real estate transaction failed to close. The parties reached a settlement involving a revised agreement of purchase and sale.
Issues/Main Discussion: The court had to determine if the parties had reached a binding settlement agreement that included the sale of the property, mutual releases, and dismissal of claims without costs.
Ruling: The court dismissed the action and the counterclaim without costs, finding that the parties had reached a settlement agreement through their negotiations and mutual performance of the revised agreement of purchase and sale.
Amount Awarded: The motion was granted with costs fixed at $5,000 all-inclusive.
