The Litigator
The Litigator
AGM :: Affleck Greene McMurtry LLP
THE LITIGATOR
Affleck Greene McMurtry LLP
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Sands Brothers Canada


 

Investment industry practice can be considered in determining whether contract is formed, Court of Appeal rules

In its decision earlier this year in UBS Securities Canada, Inc. v. Sands Brothers Canada, Ltd., the Ontario Court of Appeal examined the extent to which industry custom and common practice may be utilized in determining whether a contract has been formed between two parties. In particular, the investment industry practice of conducting multi-million dollar deals over the telephone was cited by the Court in finding that a binding agreement for the purchase and sale of shares had been concluded between the parties to this litigation and in ordering specific performance of that agreement. [more] Full article