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What Does "herewith" Mean in respect to the Deposit?

By
Commercial Real Estate Agent with RE/MAX West Realty Inc., Brokerage (Toronto)

Herewith means “at the same time as”, “contemporaneously”, or “now”.

 

There is also an extended definition contained in the agreement of purchase and sale which means within 24 hours of acceptance.

 

These additional words are included as part of the standard OREA pre-printed form. So, unless they are struck out they apply. Another form is unlikely to include this wording.

 

Brian Madigan LL.B., Broker is an author and commentator on real estate matters, if you are interested in residential or commercial properties in Mississauga, Toronto or the GTA, you may contact him through Royal LePage Innovators Realty, Brokerage 905-796-8888
www.OntarioRealEstateSource.com

Show All Comments
Chris Smith
Re/Max Chay Realty Inc., Brokerage - New Tecumseth, ON
South Simcoe, Caledon, King, Orangeville Real Esta

Brian, this seems like an OREA exam question, but if it was, you would be giving me four choices, A, B, C, or D ;-)

Sep 11, 2011 04:44 PM
FN LN
Toronto, ON

Hi Brian - You have a great idea for a new series - defining common legal words used in contracts.  Recitals have interesting words such as "WHEREAS", etc.

Sep 11, 2011 06:39 PM
Brian Madigan
RE/MAX West Realty Inc., Brokerage (Toronto) - Toronto, ON
LL.B., Broker

Chris,

Yes, these actyually are 'test" questions as posed by students. Sine I get a number, I often post the answers on the internet rather than sending everyone an email.

Marc,

Yes, I suppose that this could be a short series. There are probably about 75 to 100 qusetions like this. I often use short ones like these to post on a Sunday if I have fallenn behind on AR.

Brian

Sep 12, 2011 01:22 PM
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