Search - consideration

Pennycuick said, in effect, that a consideration other than services could only be shown if the consideration, other than services, moving from the employee for the benefit received demonstrably represented full value in money or money’s worth for the benefit in question. ... "n it by means of the procedure set down in the company’s polic. regulations and comply with its conditions; (iii) nor can it be said that the payment received by the appellant was ‘‘in consideration or partial consideration for covenant with reference to what the officer or employee is, or is not, to do before or after the termination of the employment’’. ... That the payment is made for no consideration in the legal sense, should not (as pointed out by Jenkins, L.J. in Jennings v. ...

That consideration, which is the cost to the appellant, was the issue of the $200,000 par value of the shares. ... Accordingly, when fully paid shares are properly issued for a consideration other than cash, the consideration moving from the company must be at the least equal in value to the par value of the shares and must be based on an honest estimate by the directors of the value of the assets acquired.’’ ... In my opinion, the consideration paid by the appellant for the 905 lots was the par value of the shares issued and nothing more. ...

The terms and considerations according to which Randol Gault availed himself of this proffered transfer of the late Mr. ... THAT in consideration of the said sale and transfer the Purchaser hereby undertakes to pay to the Vendors: (a) 50% of all commissions paid on policies issued or renewed for any clients of the late Herbert J. ... Maurice Boisvert, Q.C., writing: ‘‘I am satisfied that the dominant consideration in the memorandum of agreement... was that of an agency based upon the division of revenue rather than one of sale.’’ ...

(ii) charge or pledge the policy as security for any purpose, (iii) borrow from the insurer on the security of the policy, (iv) cancel, surrender or otherwise terminate the policy, or (v) assign the policy or revoke any assignment thereof; and By virtue of Section 4(1) of the Act* [5] there shall not be included in computing the aggregate net value of property passing on death the value of any property sold by the deceased by bona fide sale for a consideration to be paid or agreed to be paid unless that consideration was otherwise than full consideration for the property sold. ... He contended that, in the result the deceased divested himself of the policy, for which he received no consideration so that the policy was given to his wife gratuitously which is the very essence of a gift. ... Where in fact and in law there were two transactions, one voluntary and one for value, I cannot treat them as being what in fact and in law they are not, a single transaction without consideration. ...

In 1927, at the request of the Dutch company, the V.D.B. company agreed to terminate the agreement in consideration of the payment to it of £450,000 as ‘‘damages’’. ... The amount they stipulated for as the consideration for their agreement was substantial. ... Any monies received by the appellant, or which he would be entitled to receive, on account of his share of the $550,000 consideration would be a receipt of capital. ...

And it is also well established that the consideration for such sale was the annual payment of $ by Smart. If it was not paid as consideration for the sale, why else was it paid? ... No fixed sum was agreed upon as a consideration, but it is clear that the consideration for allowing the judgment to go was Smart’s agreement to make the annual payment of profits to F. ...

Gough, however, took into consideration two factors to which he attributed great importance. ... Gough did take into consideration w hich I think on the evidence had no place in a computation based on ‘‘replacement value’’. ... The stated profit ratio would have been even higher had not the summary taken into consideration some losses on resales. ...

As part of the consideration for disposition of depreciable property. ... R27), therefore the consideration contemplated by Section 20(6) (g) is the Palmer report, plus $8,200. The part of that consideration which can reasonably be regarded as the price of the buildings is apparent from the report itself, namely $61,250 (Ex. ...

The consideration given by the appellant for these acquisitions was: (a) $15,000 cash, subject to the provisions of clause two of the said agreement; (b) $10 cash to Sonograph, pursuant to clause four of the said agreement; plus (c) the appellant’s agreement to arrange credit for Sonograph and Semco in the amount of $20,000 for settlements with creditors, pursuant to clause three of the said agreement. ... As to this, upon a full review and consideration of the facts in this case, since these debentures (a) came into existence for a full consideration in a market over which the appellant had no control, (b) the discounts arose unfortuitously by a capital loss to the original owners thereof, and (c) were purchased by the appellant in an arm’s length transaction, the purchase price thereby representing the then market value; and since the gain, being the amount of these said discounts, to the appellant, from the redemption of these debentures arose, in part, from the indirect efforts of the appellant through J. ... As to this, again, upon a similar review and consideration of the facts, for the same reasons stated above in answering the first question for decision, I am of opinion that the said sums are not income from a source within the meaning of Section 3 of the Income Tax Act. ...

Watts Limited in consideration of their leases being surrendered. The transaction was closed on November 15, 1955. ... Subsection (6), clause (g) of that section is: “ (6) For the purpose of this section and regulations made under paragraph (a) of subsection (1) of section 11, the follow-: Ing rules apply: (g) where an amount can reasonably be regarded as being in part the consideration for disposition of depreciable property of a taxpayer of a prescribed class and as being in part consideration for something else, the part of the amount that can reasonably be regarded as being the consideration for such disposition shall be deemed to be the proceeds of disposition of depreciable property of that class irrespective of the form or legal effect of the contract or agreement; and the person to whom the depreciable property was disposed of shall be deemed to have acquired the property at a capital cost to him equal to the same part of that amount.’’ ... In the circumstances surrounding the sale of the property to Peter, it is not reasonable to regard any part of the $395,000 sale price as being the consideration for the disposition of the buildings. ...