Confirmation of Acceptance added in 2008 (Ontario)

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

Confirmation of Acceptance added in 2008

This is the "new" provision which was added to the OREA Standard Form Agreement of Purchase and Sale in 2008:

“CONFIRMATION OF ACCEPTANCE: Notwithstanding anything contained herein to the contrary, I confirm this Agreement with all changes both typed and written was finally accepted by all parties at ..........................(time: am/pm) this ................. day of...................................................................., 20...........

_________________________

(Signature of Seller or Buyer)”

The intention was to have the clock running from the time that was inserted into the COA. And, please note that it says "was finally accepted. That's past tense. It has already happened.

So, obviously, this COA isn't intended in any way to constitute part of the contract formation.

There's already a contract between the parties.

This is simply intended to be evifdence of the "starting time".

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