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The Appellant submits the following reasons in support of the submission that this disposition gives rise to a capital gains treatment in his hands; (1) His activities with respect to the farm land and the accompanying mining rights have been consistent with that of an investor and not a trader of land or mining rights; (2) The sale to Sandco cannot reasonably be considered to be either a lease giving rise to ordinary income (royalty or rental payments) nor payments which could be subject to the provisions of paragraph 12(l)(g) of the Income Tax Act; the thrust of paragraph 12(l)(g) is to treat, as ordinary income, payments made in respect of the sale of property where the payments to be made on the balance of the sale are dependent on the production or use to which the Purchaser puts the property. ...

(d) The witness attempted to bring about a reconciliation after he saw how Mr Va- lade’s desire to retire from business in 1978 was followed by what Mr Valade considered an unattractive offer by the appellant to purchase the business and their subsequent falling out followed by Mr Valade’s notices (A-4 to A-5) to the appellant. ...

By this time we knew that the extra cash flow provided by my monthly draws would be required to help us to finance our fledgling farm during a planned expansion to about 600 ewes, which was considered to be an economic unit. ...

To determine whether there was a repayment, only two items need be considered: 1. ...

The business records produced fail to support the appellants’ position that a legal obligation to pay the wages existed, while the so-called understanding as to future payment is too nebulous and ill-defined to be considered in any sense a legally binding arrangement. ...

It was supposed to be reimbursed to the company within the provisions of paragraph 15(2)(b). 4.02.2 The appellant argues that the money considered by the respondent as a personal loan of the appellant is, in fact, a loan of the company pursuant to what is called, in the auto industry, wholesale conversion (para 3.02). ...

The balance of the $33,685.76 shall be considered as a subordinated loan in the event that additional patents are applied for and assigned to the Corporation to be formed. ...

Since he is still alive and therefore a party to the proceedings, although unrepresented either in person or by counsel these allegations have to be considered, which is why the evidence to which reference has been made was permitted. ...

The taxpayer considered himself to be self-employed in the industry and deducted his expenses. ...

Moreover, the facts that the verbal agreement did not stipulate a fixed remuneration and that the amounts paid by the company to the appellant were not regular payments, are not material in the circumstances. 4.03.3 Another point must also be considered and it is that the agreement shall terminate at the death of the appellant or at the age of 65 years (para 3.01(g)(2)). ...