Introduction
C.M. Callow Inc. v.
Zollinger
1
, the Supreme Court of Canada
(
SCC ) clarified the scope of the duty
of honest contractual performance, as recognized by the Court in
Bhasin v. Hrynew
Bhasin, and further expanded on in
C.M.
Callow, the duty of honest contractual performance is one of
the manifestations of the organizing principle of good faith in
performance of contracts. While the organizing principle of good
faith usually manifests itself in specific legal doctrines, such as
the doctrine of unconscionability, and in specific types of
contractual relationships, such as those where the parties are
required to cooperate to achieve the objectives of the contract and
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Following a lengthy and industry wide consultative process, the
Canadian Construction Documents Committee (CCDC) has recently
issued a new CCDC 2 (2020) Stipulated Price Contract. The revised
CCDC 2 has attempted to address some of the more significant
changes that have taken place in the construction industry since
its last version published in 2008.
As an example, as prompt payment and adjudication comes into
play across the country there was a need to update CCDC 2 to better
align the commonly used contract document with industry practices
and legislated requirements.
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Recently, Egypt has witnessed a remarkable increase in the
number of construction companies and their activities regarding
infrastructure and real estate development, and Egypt has declared
its need for private investment to take a larger role in this
sector.
The government is working on attracting investors and empowering
the private sector. This is a major step on the road towards
achieving urban expansion and improving the infrastructure as per
Egypt s 2030 vision.
Therefore, both Egyptian and foreign investors
are trying to be part of that profitable investment either through
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Section 19 of the Indian Contract Act, 1872 provides that in an
agreement where consent to an agreement if caused by coercion,
fraud or misrepresentation, such agreement is voidable at the
option of the parties. The exception to the aforesaid section
provides that if such consent was caused by misrepresentation or by
silence, fraudulent within the meaning of Section 17, the contract
is voidable, if the party whose consent was so caused had the means
of discovering the truth with ordinary diligence.
Ordinary diligence or due diligence is an important step before
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Escrow is the term used when funds or assets are held by a
neutral, jointly-appointed third party on behalf of two contracting
parties, subject to a transaction being completed between them
(typically a contract of sale), until certain predetermined
obligations or conditions under the agreement have been met.
More simply put, an escrow account is a bank account with
defined conditions for the release of funds. Etymologically, the
word derives from the French word escroue, which refers to a scrap
or roll of parchment that served as a written instrument that could