What is the test for equity in a real estate transaction?
British Columbia, Canada
The following excerpt is from Nicholson v. O'Shea, 2004 BCSC 1303 (CanLII):
Where there has been part performance of an oral agreement by payment of a deposit or other monies, an equity ordinarily arises in favour of the purchaser and the vendor is precluded from relying on s. 59(3)(a) of the Law and Equity Act. See Nicol v. Weigel, [1991] B.C.J. No. 2080.
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