There isn't any such thing as fundamental breach in Canada anymore since 2010.
You are referring to the Tercon case, which dealt with fundamental breach vis-a-vis an exclusion clause. But it's still the measuring stick for whether you can terminate (or more accurately accept a repudiation). It was used as recently as 2013 in this fashion:
http://www.canlii.org/en/ab/abqb/doc...13abqb388.html