Words and Phrases - "agreed"

Before concluding that s. 7(1.1) governed the issuance of shares to the taxpayer, Margeson TCJ. found that they were issued to the taxpayer in respect of his former employment with the issuer and that there was no requirement under s. 7 that the taxpayer be an employee of the company at the time of the granting of a stock option or at the time of its exercise.

Although there was no formal agreement for the issuance of the shares, there is nothing in the word "agreed" that suggested that "a formal contract in the sense of an offer and acceptance" is required (p. 1108).