Limiting Common Law Notice in Employment Contracts By Shafik Bhalloo and Devin Lucas It is settled law in Canada that an employer may displace an employee’s right under the common law to reasonable notice of termination by contracting to a lesser notice or severance entitlement. However, the notice or severance period must meet the statutoryContinue reading “Limiting Common Law Notice in Employment Contracts”
Interpreting ambiguity in commercial contracts
The importance of careful and accurate drafting of business contracts cannot be stressed enough. However, as careful as a party may be in drafting the contract and as clear as the contractual terms may appear to the parties at the time they are signing the contract, at some point during the operation of the contract,Continue reading “Interpreting ambiguity in commercial contracts”
Shareholders’ Agreements: parties to “Shotgun” Clauses Could be in for a Shock
Shareholders’ Agreements: Zeubear Investments Ltd. v. Magi Seal Corporation 2010 ONCA 825 (December 7, 2010), a decision of the Ontario Court of Appeal, is a reminder to pay close attention to the potentially different interpretations in “shotgun clauses”. Shotgun clauses are generally inserted in shareholders’ agreements as an exit provision. One party offers to purchaseContinue reading “Shareholders’ Agreements: parties to “Shotgun” Clauses Could be in for a Shock”