Kozina and Kozina v. Trans-Alta Mortgage & Financial Services Ltd., (1979) 24 A.R. 405 (QB)
Judge | Feehan, J. |
Court | Court of Queen's Bench of Alberta (Canada) |
Case Date | October 22, 1979 |
Citations | (1979), 24 A.R. 405 (QB) |
Kozina v. Trans-Alta Mortgage (1979), 24 A.R. 405 (QB)
MLB headnote and full text
Kozina and Kozina v. Trans-Alta Mortgage & Financial Services Ltd.
(128270)
Indexed As: Kozina and Kozina v. Trans-Alta Mortgage & Financial Services Ltd.
Alberta Court of Queen's Bench
Judicial District of Calgary
Feehan, J.
October 22, 1979.
Summary:
This headnote contains no summary.
Contracts - Topic 1604
Formation of contract - Mistake or misrepresentation - Misrepresentation - What constitutes - The plaintiffs, who did not read or write English, had a discussion with an agent of the defendant company and indicated to him the terms on which they wanted to borrow money - At the time of execution of the mortgage and an order for payment prepared by the defendant company the plaintiffs requested and received an explanation of the documents, but the total cost of the loan was not explained to them - In particular they were not informed that the actual interest rate was higher than agreed or that a substantial discount was payable to the defendant - The plaintiffs brought an action for rescission of the contract - The Alberta Court of Queen's Bench held that the plaintiffs were entitled to rescind the contract - The court stated that there was misrepresentation because the agent did not properly explain the documents which resulted in mistake of fact - The plaintiffs and the defendant's agent were therefore not ad idem in arriving at the contract - See paragraphs 8 to 21.
Counsel:
D.P. Maguire, for the plaintiffs;
J.E. Ryan, for the defendants.
This case was heard before FEEHAN, J., of the Alberta Court of Queen's Bench, at Calgary, Alberta, on October 22, 1979.
The oral judgment of FEEHAN, J., was delivered on October 22, 1979.
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