What is the difference between an agreement for sale and a mortgage?
British Columbia, Canada
The following excerpt is from Oxford Dev. Group Ltd. v. Tahsis Estates Ltd., 1984 CanLII 337 (BC SC):
The distinction between an agreement for sale and a mortgage, and the court's limited jurisdiction with respect to the former, have long been recognized in our law. In Davidson v. Sharpe, 1920 CanLII 83 (SCC), 60 S.C.R. 72, [1920] 1 W.W.R. 888 at 896-97, 52 D.L.R. 186, Anglin J. stated: The anomalies introduced by Courts of equity in regard to the relations between mortgagor and mortgagee do not exist in regard to vendor and purchaser.
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