Chapter 1 Fundamentals Flashcards
🔵Small Claims court are heard in the BC Supreme Court
🔵Supreme court can hear cases for claims of any amount
🔵Evidence is not reheard wt the BC Court of Appeal; only matters of law are considered
🔵Small Claims Court - < $35,000
🔵writ of execution is requested by the judgment creditor then is issued to the sheriff, then the sheriff can seize and sell enough of the debtors assets to pay the judgment.
🔵when a third person owes money to the judgment debtor, the plaintiff can obtain that money by means of a garnishing order. However, the plaintiff cannot obtain all of an employee’s wages. (70% of the wages are exempt from seizure)
🔵a judgment creditor can register a judgment in the land title office against the debtor’s title, but must apply to a COURT for a judicial sale.
Disclosure statement
Must be in form required by BCFSA. But it need not contain from a lawyer.
Canadian Real Estate Association
Authority to develop and amend relstor code
BCFSA
🔵May refuse to issue license to unqualified applicant under the Real Estate Services Act
🔵requires criminal record check as part of determining whether and applicant is of a “good reputation”
🔵One of it’s powers is to impose administrative penalties for those who contravened the Real Estate Services Act
Examination for discovery
may be a major factor in the settlement of a dispute. “Mini trial”
Representative licensee
key responsibility is to keep his managing broker informed of the business activities he performs on behalf of the brokerage and the duty to promptly respond to any inquiry addressed to him by his managing broker.
Court costs
🔸can be awarded to either party
🔸Meant to partially reimburse the legal expenses of the awarded party
🔸discourages people from bringing or defending weak cases
Financial Services tribunal
An appeal of bcfsa’s decision to discipline a licensee will be heard.
To appeal a decision, the party must send notice to them within 30 days of the date of the decision
Real estate errors and omissions indemnity plan
🔸to provide an affordable method of protecting licensees from financial loss as the results of a licensee’s errors or omissions will receive no compensation due to the licensee’s lack of funds
🔸Covers a liability limit $1M
🔸Has the right to settle claim without consent from the licensee
🔸does not provide coverage for penalties and fines
Real Estate Development Marketing Act
🔸Requires a developer to prepare a disclosure statement prior to selling lots in a subdivision.
🔸A bank acquiring a bankrupt developer’s rights would also be a “developer”
🔸certain transactions are exempted for full disclosures including where all unit in a development property are sold in a single transaction
Commencing a lawsuit in small claims court
The action in the jurisdiction where either the cause of action arose or the defendant resides
Public Law
🔸constitutional law
🔸Deals with the constitution and matters between private individuals and the state.
Private law
🔸trespass
🔸Breach of contract
Stare decicis
🔸former decisions are used as basis for later decisions
🔸The common law system has uniformity
🔸Decisions by the Supreme Court of Canada are accorded the most weight in our jurisprudence