Search - consideration

A person with whom the transferor was not dealing at arm’s length. 4) The fair market value of the property transferred must exceed the fair market value of the consideration given by the transferee. [4]              Ms. ... Juba was the transferor, that he was liable to pay tax under the Act at the time of the transfer, that the funds she received from the RRSPs were transfers of property within the meaning of subsection 160(1) and that the fair market value of the funds received exceeded the consideration provided by her. ... It would seem to follow that consideration of legislative purpose may not only resolve patent ambiguity, but may, on occasion, reveal ambiguity in apparently plain language. ” See P.W. ...

In consideration of the change, Aviva agreed to pay Gestion Lagarde $400,000. [17]         Soon after the corporations agreed to the terms of the letter of September 16, 2005, the nine individual shareholders of RJCG added their signatures to the letter agreeing to its terms. ... This letter clarified that Aviva would pay RJCG $400,000 in consideration for amending the Shareholders Agreement on September 16. ... Aviva would not be acquiring all of the shares of Gestion Lagarde from RJCG as originally contemplated in the Shareholders Agreement. [29]         By agreement dated as of April 28, 2006 ("Rollover Agreement") Aviva transferred its rights under the Shareholders Agreement, as amended, to Newco in consideration of 1,000 Class "F" shares in the capital of Newco. [30]         In another agreement, the "Holdback Agreement", also dated as of April 28, 2006, the sale of the shares of RJCG to Newco was acknowledged and agreed. ...

.), with which it had a non-arm’s length relationship, apparently transferred $185,837.14 to it, without giving consideration equivalent to that transfer. [3]              According to the Minister of National Revenue (Minister), Antoni paid $478,845.99 to LCR in the following manner. ... Goulet, he did not explicitly consider this, but it was a consideration that he had to keep in mind when it came to establishing the value, [57]         Mr.   Goulet stated that, in the context of a business valuation, there must be consideration of the [translation] “nuisance value”, that is, a shareholder’s ability to block a transaction, and because, according to him, René Lupien had such ability, he considered that element in his analysis. [58]         Mr.  ...

This issue requires consideration of the impact of Star's assignment into bankruptcy on the same day as moneys were received and distributed.                 ... What is required is consideration of two questions: firstly, whether MacIntosh was a "secured creditor" as defined in subsection 317(4); and secondly, whether the amount paid to MacIntosh would have been payable to the Appellant but for MacIntosh's right to receive it as required by paragraph 317(3)(b). The first question requires consideration of the further question of whether MacIntosh had a "security interest" in the property of another person which in turn requires finding both that MacIntosh had such interest and that it "secures" payment or performance of an obligation. [25]          MacIntosh will be a secured creditor for the purposes of subsection 317(3) if pursuant to the definition of "secured creditor" in subsection 317(4) it is "a person who has a security interest in the property of another person" (Star). ...

In consideration for the transactions mentioned at paragraph 5, the predecessor shareholders were to receive the principal sum of US$9,385,000 consisting of cash payments totaling US$3,550,000 (US$500,000 of which was to be paid by the Appellant- $645,445 CDN.), with the remaining US$5,835,000 to be paid by way of a promissory note bearing interest at 15% per annum as is shown by the promissory note attached hereto as Exhibit 3. ... During the 1995 taxation year, the Appellant redeemed 24,750 of its own outstanding common shares previously held by Teri Buckley for consideration of $372,613 including a promissory note in the amount of $335,352 bearing interest at a rate of 6.75% per annum as is shown by notes 5 and 6 to the Appellant's Financial Statements for the year ended December 31, 1995 attached hereto as Exhibit 18. 23.            ... Financing may be obtained from a bank, it may also be obtained from the vendor in a matter of acquisition. [73]          It should also be taken into consideration that Parliament enacted 20(1)(c)(ii) after the McCool decision disallowed the deductions of interest on a promissory note under 20(1)(c)(i). ...

I see it as confirming yet again that the Legal Services Agreement (defined in the above agreement as the "Retainer Agreement") covers the administrative services attached to the office of vice-president not only by its own express terms but by default as well under the Director/Officer Agreement. [23]          As to the remuneration for services, consider the following contractual provisions of the Legal Services Agreement and the Officer/Directors Agreement: Legal Services Agreement 2.1            For and in consideration of the services provided by Lawcorp to the Company under this Agreement, the Company shall pay to Lawcorp a fee (the "Retainer Fee") equal to $197,400 per annum, payable in equal monthly instalments of $16,450 on the last day of each and every month. ... The value of the "practice" was estimated at $100,000 but the consideration paid by BEM Corp. consisting of preferred shares and a promisary note was subject to a price adjustment clause. [32]          There seem to be a number of questions relating to this transfer. ... The corporate veil would arguably prevent consideration of the true nature of the overall arrangement. ...

  [59]          The Respondent proposed three alternative arguments for consideration in the event that I concluded that the Appellant was a part of, or an agent of, the Crown during either or both of the periods under appeal. ... However, the focus here should really be on a consideration of those decisions which have dealt with section 261 of the ETA. ... S.A.C., [2008] 2 S.C.R. 675, when considering an ambiguity in a federal statute one must take both the English and French versions of the statute into consideration.  ...

In my view, the consideration of all the circumstances quite rightfully requires the consideration of any remuneration paid to the party in respect of whom the issue of non-arm’s length arises as well, i.e., remuneration paid by the Appellant to the Payer in this matter, notwithstanding the Appellant’s earlier objection that matters and evidence dealing with Edward Huntley’s earlier decision be struck ...   [46]          Firstly, as stated above, the Appellant nor the Payer have provided any proof or documentation of same, for the Court’s consideration. ...

  [30]          Turning, then, to a consideration of the Respondent’s arguments, counsel for the Respondent referred the Court to Dataco Utility Services Ltd. v. ... Counsel for the Respondent correctly reviewed the elements of a contract of service [29] (control, ownership of tools, chance of profit and risk of loss, and integration) as well as the additional consideration of the intent of the parties ... While I agree with counsel that that might have been the fiscally clever thing to do, the reality is that people are often motivated by many other considerations. ...

The fact that one party may be impecunious does not automatically determine the application in favour of the other party who will not ultimately be able to collect damages, although it may be a relevant consideration. [10] [References omitted ... The public interest is an important consideration in deciding whether to postpone the suspension ... The consideration of harm to public confidence is admissible in the present case, precisely because it is the public's confidence in the CRA to oversee registered charities that is at issue. ...