Search - consideration

This last consideration is I think justified by the decision in Re Ontario c Minnesota Power Co. ... These considerations in my opinion would lead an investing purchaser to be willing to pay the assessed price for lot 0805. ... That body would I think have the same considerations before it in fixing the price as presumably the Dominion Government had. ...

It is further agreed that, as of the date of transfer, the aggregate cash surrender value of the six policies was $29,330.09; and the Crown further concedes for purposes of this appeal that payment by the recipient of the cash surrender value of a transferred life insurance policy can constitute adequate consideration for that transfer. 4 In this case, Mrs Whittall gave her late husband a demand promissory note in his favour in the sum of $29,330.09 payable without interest at the rate of $4,000 per year. 5 On March 21, 1964 the six policies in question were transferred by Mrs Whittall to M M Estates Ltd, a British Columbia private corporation, in which at all material times all issued shares were held by Mrs Whittall and members of her family, excluding the deceased who was not at any time a shareholder of the company. ... The appellants, however, rely on the concluding unnumbered provision of subsection 2(2) of the Act, which reads: but nothing herein contained shall render liable for duty any property bona fide transferred for a consideration that is of a value substantially equivalent to the property transferred. 10 The appellants contend that during the deceased's lifetime he agreed to transfer and did transfer these policies to his wife, that he received consideration for this transfer in the form of a demand promissory note, that this note was for a sum “substantially equivalent” to he value of the transferred policies, and that accordingly the insurance proceeds are specifically excluded from the deceased's estate under the above provision. ... The deceased received no consideration for this transfer. 14 In my opinion, that language is entirely appropriate to the situation before me. ...

HELD: The same considerations applied to determine the situs of shares for the purpose of judicial execution as for the purpose of a dispute as to ownership, which was the issue in Braun v. ... In both situations the dominant consideration was the jurisdiction of the court to which the corporation was ultimately subject (which fixed the situs in Montreal in the present case). ... In both cases, the dominant consideration is the jurisdiction of the Court to which the company is ultimately subject. ...

Counsel for Revenue Canada submits that this should not be a consideration due to the opening words of s. 224(1.2): “Notwithstanding any other provision of this Act". While these words would preclude consideration of another section in the case of a conflict, it would otherwise be against the rules of statutory interpretation to read the section in isolation. ...

This question has arisen for consideration in American cases. I refer firstly to the judgment of the California Court of Appeal, Second District, Terrace Water Co v San Antonio Light & Power Co et al (1905), 82 P 562. ... There is another consideration which I think provides an indication of the legislators’ intent. ... Upon consideration of the whole, I have come to the conclusion that electricity, in the circumstances disclosed by the agreed statement of facts, is not property exempt from taxation under section 87. ...

Lawson’s letters of May 14 and June 4, 1946, excepting allowance for Income Tax and situation respecting lease, as Assistant Deputy Attorney-General has ruled that these should not be considered 17,407.40 $156,666.60” The petitioner submits: (1) That the value of the said interest in the said lease should be the fair market value thereof at the date of death of the deceased; (2) That the Suecession Duty Department erred in valuing the interest of the deceased in the rentals to be received from the said lease as an annuity and of basing the value thereof on expectation of life: (3) That the moneys to be received by the estate of the deceased whilst forming a portion of the capital of the said estate constitute income for income tax purposes in the hands of the executrix of the said estate and that the market value thereof is a figure to be determined after deduction of the income taxes which may be levied in respect thereof; (4) That the department in so valuing the said rentals has failed to take into consideration the following facts which would affect the rental value of the said premises: (a) That the lessees of the lands covered by the said lease might meet with competition from various new business; (b) That by reason of the existence and registration of the bond issues created by Woodward’s Stores Limited the value of the leasehold premises is reduced as in the event of foreclosure thereof the business of Woodward’s Stores Limited might get into the hands of people who were not capable of managing it properly; (c) That the centre of business activity in Vancouver might change; (d) The risk of destruction of the building by fire, earthquake, bomb or loss by expropriation for Dominion, municipal or provincial purposes; (e) The possible requirement of extensive repairs for the purpose of safety, which repairs might not be chargeable to the tenant; (f) The possibility of the lessor being obliged to re-enter and let to others at a considerably less rental. ... I certainly do not know how it is the primary consideration here. The question is then raised as to whether ‘‘in truth the interest is within the words future income or interest as used in sec. 3”, which makes such future income or interest subject to the provisions of sec. 19, both being sections of the Succession Duty Act. ... This leaves out of consideration the main feature of the interest, that is, that it is an interest pur autre vie. ...

(b) The remedy for a Charter breach may be the quashing of a search warrant, but only after due consideration of subsection 24(2) of the Charter and the balance wheel of public versus private security and safety. ...

In arriving at the duration, I have also given consideration to Mr. Byerlay’s age, his health, and the health needs of his dependent wife. ... I have given consideration to that request, but after taking into account Mr. ...

This contention, while of considerable weight, was not presented to the County Court Judge for consideration nor passed upon by him in his reasons for judgment. Consideration of this contention would involve discussion, as to what documents constitute the record in an appeal before a County Court Judge, where he gives reasons for his decision, and also as to whether Rex v. ...

The statute under consideration in that case was The Death Duties Act, 1934 (Newfoundland). ... I set out those clauses: 2. (2) For all purposes of this Act, the following property shall be deemed to be property of the deceased and to be property passing on his death:— (i) Any right that any person had at the time of the death of the deceased under an agreement made by the deceased during his lifetime whereby that person agreed to purchase after the death of the deceased any property of the deceased or any property over which the deceased had any means of control, at a fixed price or at a price to be fixed, where the value of the consideration for the agreement to purchase, including the price so fixed, is less than the value, at the time of the agreement and at the death of the deceased, of the property: (j) Any right that any person had at the time of death of the deceased under an agreement made by the deceased during his lifetime, to exercise after the death of the deceased, an option to purchase any property of the deceased or any property over which the deceased had any means of control, at a fixed price or at a price to be fixed, where the value of the consideration for the purchase of the property, including the price so fixed, is less than the value, at the date of death of the deceased, of the property: In his written argument counsel for the respondent does not refer to clause 2(2)(i). ... The value of the consideration for the purchase of the shares is $5.33 per share. ...