I don't know the rules in Alberta, but in BC your friend would be out of luck. An exchange of funds is just as binding as signing a tenancy agreement. Since you need to give one month's written notice to end a tenancy agreement as a tenant, the landlord in this situation is actually owed a full month's rent. If the damage deposit was half a month's rent(the maximum allowable in BC) then your buddy is actually getting a "deal" since he would technically owe double.
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