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CONTRACT INTERPRETATION - General principles - Context - Consider the entire contract - Commercial reasonableness

Wednesday, July 05, 2017 @ 10:24 AM  

Appeal by the plaintiff Ryan Mortgage Income Fund Inc. from a trial judgment dismissing its action for breach of contract. The appellant was a mortgage investment company. The respondent Alpine Credits Limited was a licensed mortgage broker and related to the appellant. It sold the mortgages it underwrote to the appellant or to other third party investors. An appraiser had prepared an incorrect appraisal for two borrowers in relation to 11 lots of land. The respondent relied on the appraisal and then sold the mortgage to...