Authors: Shelly K. Chamaschuk and Tina Pashootan

A purchase agreement often contains many representations and warranties. These provisions vary, including how long they remain in effect after the transaction is completed. Topics include both parties giving representation and warranties; fundamental, tax, and general (non-fundamental) representations and warranties; survival clauses; indemnification; scope of indemnity; representation and warranty insurance; and basket clauses.

These materials are part of a collection presented at LESA’s Buying and Selling a Business program in Edmonton on February 6, 2026.