Cloval Developments Inc. v. Koledin and Koledin, (1984) 1 O.A.C. 368 (CA)

• Judge: Arnup, Blair and Weatherston, JJ.A.
• Court: Court of Appeal (Ontario)
• Case Date: December 13, 1983
• Jurisdiction: Ontario
• Citations: (1984), 1 O.A.C. 368 (CA)

Cloval Dev. Inc. v. Koledin (1984), 1 O.A.C. 368 (CA)

MLB headnote and full text

Cloval Developments Inc. v. Koledin and Koledin

Indexed As: Cloval Developments Inc. v. Koledin and Koledin

Ontario Court of Appeal

Arnup, Blair and Weatherston, JJ.A.

January 16, 1984.

Summary:

A mortgagor's successor-in-title applied to permit payment into court of the amount due under the mortgage and for an order that the mortgage be discharged. The issue was whether a prepayment clause in the mortgage was incorporated into an agreement extending the mortgage.

The Ontario High Court, in a decision unreported in this series of reports, dismissed the application. The successor-in-title appealed.

The Ontario Court of Appeal dismissed the appeal.

Mortgages - Topic 2983

Payment of mortgage - Prepayment - Loss of right or privilege - The Ontario Court of Appeal held that a clause in a mortgage permitting prepayment at any time without notice or bonus could not be carried forward into an agreement extending the time for repayment and providing new terms of repayment of the mortgage - The court held that since the prepayment privilege was not expressly provided in the extension agreement, it was lost - See paragraphs 9 to 10.

Counsel:

F. Battiston, for the appellant, Cloval;

G.W. McKechnie, Q.C., for the respondents.

This appeal was heard before Arnup, Blair and Weatherston, JJ.A., of the Ontario Court of Appeal, on December 13, 1983. The decision of the Court of Appeal was delivered orally by Weatherston, J.A., and released on January 16, 1984.