Surety : Surety

Definition : Surety

Natural person or a legal person, who binds himself towards the creditor, under the terms of a contract, to perform the obligation of the debtor if he fails to fulfil it.

21/08/2015

Making down payments with the preliminary contract

Building a condominium requires major investments on the part of a developer. This is the reason why a down payment will be required upon signing the preliminary contract for the desired condo unit. The Civil Code of Quebec provides that “any amount paid on the occasion of a promise of sale is…...

Purchase

Definition : Surety

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Making down payments with the preliminary contract