A buyer removed all subject conditions on their purchase of a condominium in Kelowna. Before the completion date, the buyer loses their job and informs the seller they can no longer complete the purchase. The seller suffers financial losses due to the buyer's inability to close. Which of the following remedies is the seller LEAST likely to pursue in this situation?

Question: A buyer removed all subject conditions on their purchase of a condominium in Kelowna. Before the completion date, the buyer loses their job and informs the seller they can no longer complete the purchase. The seller suffers financial losses due to the buyer's inability to close. Which of the following remedies is the seller LEAST likely to pursue in this situation?

Answer options:

• Forfeiture of the buyer's deposit.
• Specific performance, compelling the buyer to complete the purchase.
• Damages for losses incurred, such as carrying costs and price differences on resale. ✅ Rescission of the contract, treating it as if it never existed.

Correct answer: Rescission of the contract, treating it as if it never existed.

Explanation: Rescission aims to unwind a contract and restore parties to their original positions, often used in cases of misrepresentation or mistake, not typically when a buyer breaches an otherwise firm contract by failing to complete. The seller generally wants to enforce the contract or claim damages for the breach.