The Agreements of Sale Cancellation Act and the LCAA significantly overlap in terms of when they require a vendor to commence proceedings in court to terminate an agreement for sale of land. Eliminating The Agreements of Sale Cancellation Act will simplify the cancellation process by reducing the number of Acts to refer to, decreasing the possibility that a cancellation procedure is incorrectly commenced, saving the parties’ money, and the court time. The LCAA requires a vendor to apply to the court in order to cancel an agreement for sale – replicating this requirement in The Agreements of Sale Cancellation Act is unnecessary.
(Refer to Part 7.3.2.)