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''Southcott Estates Inc v Toronto Catholic District School Board'', , is a landmark case of the Supreme Court of Canada in the area of commercial law, with significant impact in the areas of: : * specific performance in the context of commercial land transactions (together with the related duty of mitigation), and : * piercing the corporate veil for single purpose subsidiaries ==Background== Southcott Estates Inc sued the Toronto Catholic District School Board for specific enforcement of a contract to sell it of land. Southcott Estates Inc was a subsidiary of Ballantry Homes Inc, a developer,〔Part of the Ballantry Group of Companies, see 〕 and special purpose entity created just for purchasing and developing the land. The deal was conditional upon Southcott paying a 10% deposit, and the Toronto School Board getting severance permission from Toronto's Committee of Adjustment before a certain date. However, the Committee refused without reviewing a development plan for the land, which meant severance was not granted in time. Southcott sued for specific performance or damages. At trial, Southcott stated it never had any intention to mitigate its loss and had not tried, that it had no assets other than the deposit from Ballantry Inc for the deposit, and it was never going to purchase any other land. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Southcott Estates Inc v Toronto Catholic District School Board」の詳細全文を読む スポンサード リンク
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