(i) the disclosure
statement is inaccurate, and the buyer would be materially prejudiced if
compelled to complete the contract, given the disclosure statement’s
inaccuracy, but only to the extent that the disclosure statement was
inaccurate when the contract was entered into;
(ii) despite reasonable
efforts by the buyer, the buyer has not been able to verify the information
contained in the disclosure statement; and
(c) the termination is effected by
written notice given to the seller—
(i) notifying the seller that the
contract is terminated; and
(ii) if the buyer relies on paragraph (b) (ii)
for terminating the contract—advising the seller of the efforts made by the
buyer under the paragraph.
(2) The written notice mentioned in subsection (1)
(c) must be given to the seller within 14 days, or a longer period agreed
between the buyer and seller, after the buyer’s copy of the contract is
received by the buyer or a person acting for the buyer.
(3) In a proceeding
in which it is alleged that the buyer did not make reasonable efforts under
subsection (1) (b) (ii) , the onus is on the buyer to prove the buyer made
reasonable efforts.
