In for a penny.

An Ontario municipality was selling a cottage for tax arrears by sealed tenders, with a requirement for a deposit of 20 percent of the tendered amount. The highest bid was in the amount of $22,100.99 with an accompanying deposit for $4,420.19. The second highest bidder, Frank Carrocci, calculated that the highest bid was one penny short of the deposit required by law, and challenged the municipality in court. Justice J.S. O'Neill asked, "Can one cent make the difference between a valid tender, and an invalid tender, in relation to a municipal tax sale conducted under the Municipal Tax Sales Rules?" He ruled that one cent indeed makes a difference, stating "There can be no disputing the fact that 20 percent of $21,100.99 equals $4,220.198 cents. The Municipal Tax Sales Rules are mandatory, and a tender must be accompanied by a deposit of at least 20 percent of the tender amount. The obligation on a person making a tender is to provide a deposit of at least 20 percent of the tender amount, or at his discretion, in an amount greater than 20 percent." The judge rejected the highest bidder's contention that a fraction of a cent is trivial and dismissed his claim, declaring that Mr Carrocci had submitted the winning bid.

Carrocci v. McDougall (Township) Ontario Superior Court of Justice May 18, 2004