Calculating Damages For A Failed Real Estate Transaction

Legal Case Analysis: Preiano v. Cirillo, 2024 ONCA 206 (CanLII)

This case involves a failed real estate transaction and raises important issues about contract law and the application of damages. The dispute arose when Giuseppe and Antonia Cirillo, who later passed away, agreed to sell their property to the Preianos for $480,000. However, the transaction was not completed by Giuseppe and Antonia Cirillo on the scheduled closing date. The primary dispute was whether Giuseppe and Antonia had breached the agreement, and whether the Preianos were entitled to specific performance of the sale or compensation in damages. The trial judge ruled in favour of the Preianos, finding that Giuseppe and Antonia had breached the agreement by failing to close the transaction. However, the judge did not order specific performance (the completion of the sale) but awarded the Preiano's $1 million in damages, along with prejudgment interest and costs. The appellants, Giuseppe and