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21 May 2020

Contract law 2020 BCCA 139

Sherry v. CIBC Mortgage Inc.

Court: British Columbia Court of Appeal

The Court of Appeal dismissed CMI’s appeal and upheld certification of statutory illegality and unjust enrichment claims concerning mortgage prepayment charges and disclosure.

Prepayment charges
Statutory disclosure obligations
Illegality of contract terms
Unconscionability
Punitive damages
Net present value/present value adjustment

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Sherry v. CIBC Mortgage Inc.