Search - consideration

The imposition of a penalty might be taken into consideration by the Board in exercising its discretion on what would be “just and equitable”, but it does not validate the reasons advanced in this application as to why it was “not possible” to file within the required time, which would permit the use of such discretion. ...

The Vendor hereby represents and warrants to the Purchaser that: (e) following March 31, 1978 and prior to the Closing there shall not have been any change in the authorized or issued capital of the Company except for the issue of ten thousand (10,000) common shares of the Company to the Vendor for a consideration of One hundred, thirty-three thousand, five hundred and fifty-four dollars ($133,554). ...

In consideration of this payment the respondent was released by the wife “from any further liability” under the said judgment. ...

The consideration paid by the plaintiff was some $1,125,000 of which by the agreement $70,000 was apportioned to the lease of the land, $960,000 to the buildings, $14,000 to other improvements and the remainder to furnishings and other chattels. ...

The fact that the appellant gave valid consideration for the shares he originally acquired in Ark does not necessarily lead to the conclusion that they were acquired as an investment. ...

I deem it useful to quote extensively from Mr Justice Mahoney’s decision wherein he was attempting to determine the pure question of fact of fiscal residence and the consideration and criteria required to determine such residence. ...

(c) A critical consideration of the reasons advanced for the eventual abandonment or the frustration of the stated intention. ...

(c) The recorded balances in the shareholder’s loan account were: December 31, 1971 ($4,605.72) December 31, 1972 ($7,052.00) December 31, 1973 $63,972.00 (d) Prior to the end of 1972, the following entries were made in the records of Jardine: DR Savings Account $60,000 CR Shareholder’s Loan Account—H J Rempel $60,000 (e) In early 1973, Adjusting Journal Entry No 1 was made in the records of Jardine as follows: DR Shareholder’s Loan $60,000 CR Bank Savings $60,000 “To reverse 1972 J/E JE 43” (f) No consideration was provided to the corporation for its apparent reduction of the Appellant’s indebtedness to it. ...

The valuation figure, I believe, was unduly increased by these considerations. ...

He reviewed the work of the Revenue auditor covering the taxation years under consideration in this appeal and with these references Mr Griffin-Warwicke states that he was able to identify each loan and the purpose for each loan. ...