Search - consideration

Because of the personal pride in your products which the principals of our firm have always felt, the Doulton side of our business has had pre-eminent consideration in our sales efforts, and consequently the results rival in volume the total business of all our other agencies combined. ... Inland Revenue (1938), 21 Tax Cas. 608, Lord Normand (Lord President), said (ibid., at p. 619): ‘... no infallible criterion emerges from a consideration of the case law. ... On that sort of consideration this case might well have been different if the £4,000 had been paid because the taxpayer’s goodwill had been damaged. ...

Fleet, nor did he receive, full consideration in money or money’s worth in return for his obligation to pay the sum of $20,000. ... I think that the true consideration was the marriage itself. Reference may be made to Lord Advocate v. ... My decision has been finally reached on consideration of the Act as a whole. ...

The amount in question was the consideration for the sale of certain oil and gas leases. A document was executed in 1963 purporting to be a conveyance of those leases by the appellant and an acknowledgment of receipt of the consideration by the appellant. In fact the consideration was paid to a firm of solicitors, acting both for the vendor and the purchaser, in 1963 and was not paid over by the solicitors to the appellant until 1964. ...

It was submitted that there is a further distinction between the English statutes and the Dominion Succession Duty Act in that Section 3 of the Finance Act, 1894, deals only with bona fide purchases for full or partial consideration, while clause (k) of Section 3(1) of the Canadian statute applies to all transfers for partial consideration. ... Rowlatt, J., said at page 435:_ ‘ ‘ The transaction here was induced of course by family considerations, but that does not conclude the matter. ... It is perhaps unnecessary that I should go any further, but I also think that the property was not ‘‘transferred for partial consideration” within the meaning of Section 3(1) (k), since the obtaining of the consideration was not, in my view, the real object of the transaction. ...

While there is no ‘‘consideration’’ for such a gratuitous payment in the sense in which the word ‘‘consideration’’ is used by the common law of contracts, there is, from the point of view of the employer, a business reason—that is a ‘‘cause’’—for making the payment. ... Section 3(1) (g) applies to dispositions made ‘‘for partial consideration’’. While my first reaction was that this was an adoption by Parliament of the common law concept of ‘‘consideration’’, I find on referring to the French version that the corresponding phrase is “pour une cause ou considération partielle” which, to me, indicates that what we are talking about is a payment that is not supported exclusively by business considerations but is partially supported by such motives as love and affection, family duty or philanthropy. ...

I quote: Gift: “A voluntary transfer of personal property without consideration. A parting by owner with property without pecuniary consideration. A voluntary conveyance of land, or transfer of goods, from one person to another, made gratuitously, and not upon any consideration of blood or money.”’ ... The explanation follows that: “ Marriage settlements, no less than marriage articles, have always been treated as made for good consideration so that not only the spouses but also the issue of the marriage (as being without the ‘marriage consideration’) can enforce them”. ...

(g) of the Income Tax Act, as the consideration for the class 16 assets disposed of in the transaction. ... It is to be observed as well that the statutory rule applies only ‘where an amount can reasonably be regarded as being in part consideration for disposition of depreciable property of a taxpayer of a prescribed class and as being in part consideration for something else’’. ... In its income tax return for the year 1958 Klondike Helicopters Limited allotted an amount of $7,950 as the consideration for these other depreciable and expendable assets and computed its income on the basis of $42,050 having been the consideration for disposition of the class 16 assets. ...

IN pursuance of the said agreement and for good and valuable consideration which Mr. Drummond acknowledges to have received to his entire satisfaction and in consideration of the premises Mr. ... An obligation was undertaken but without legal cause or consideration. ...

Indeed, the consideration given and received for the disposition of depreciable property may, but need not, necessarily coincide with ‘‘fair market value”. In some cases the consideration may be less or more than fair market value according to the surrounding circumstances and the differing reasons which may have activated the buyer or the seller but in all cases, under Section 20(6) (g) of the Act, the consideration must be reasonable. ... This is my opinion is far below a reasonable consideration for these units. ...

On June 10, 1953 the Geneva board of directors allotted 39,997 common shares in its capital stock to William Mitchell for a consideration of five cents per share, an aggregate consideration of $1,999.85. ... Shankland estimates the consideration received by Geneva was equivalent to $3,000 per acre. 3. ... The reassessment will be remitted to the Minister for further consideration. ...