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ARTICLE · 13 JULY 2026

Credit Is A Unique Asset: Moran Grants Specific Performance To Protect A Party’s Credit Profile

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The Alberta Court of King's Bench recently ruled that a party's credit profile constitutes a unique asset worthy of protection through specific performance. This landmark decision explores when courts will enforce contractual obligations beyond monetary damages and how commercial practicality guides contract interpretation in real estate disputes.

CanadaLitigation, Mediation & Arbitration
Melissa J. Preston
Melissa J. Preston
Jordan Cook
Jordan Cook
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Specific performance is an elusive but powerful remedy for enforcing contractual obligations, especially in real estate transactions. In the recent decision, Moran v 1715664 Alberta Inc., 2026 ABKB 501, the Alberta Court of King’s Bench (the “Court”) found that one’s credit profile satisfied the uniqueness requirement and justified granting specific performance. The decision further confirms that in interpreting contractual provisions, the Court will be guided by principles of commercial practicality and reasonableness.

Background

This case arose from an agreement concerning ten condominium units in Lethbridge, Alberta. Under the agreement, the plaintiffs transferred title to the units to the defendant in exchange for $1 and the defendant’s “assumption” of the associated mortgages. Although title was transferred and several units were subsequently sold, the defendant was unable to qualify for financing to assume the mortgages on the remaining units and thereby release the plaintiffs

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