What are the duties of an executor?
An executor’s obligations are to the beneficiaries and the creditors of the estate. In general, the role, duties and responsibilities that the executor is required to perform for an estate…
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General discussion only and not to be treated as legal advice.
An executor’s obligations are to the beneficiaries and the creditors of the estate. In general, the role, duties and responsibilities that the executor is required to perform for an estate…
read moreOne difference between public companies and private companies is that public companies have disclosure obligations. So investors can review the publicly disclosed information to determine where there is a suitable…
read moreAfter completion of the acquisition (take-over bid transaction) of a public company, the next important step is going private. There are two applications that need to be made for going…
read moreIn Ontario there are three kinds of Power of Attorney: (a) A Continuing Power of Attorney for Property covers your financial affairs and allows the person you name to make…
read moreThe rules for distribution of estates with no wills in Ontario are fixed, and often very harsh. Zero to common law spouses: not legally married, no inheritance; If married and…
read more“Section 14(1) of the Construction Act provides that, “a person who supplies services or materials to an improvement for an owner, contractor or subcontractor, has a lien upon the interest…
read moreA mortgage transaction has several important documents. The first is the commitment letter, it is like a term sheet, setting out all the main terms of the mortgage, including the…
read moreIn a real estate transaction the offer is extremely important. The buyer and seller must state clearly in the officer what is sold with the property and what is excluded.…
read moreThe OBCA and CBCA both require a designation of registered office when a company is incorporated. A registered office is the address provided to the government for official communication. The…
read moreInstead of investing in shares of a company, you can also invest in a loan to the company. Loans and shares are fundamentally different (please reference Legal Small Talk #30).…
read moreAn investment fund is basically a group of people making investment together. There are several structures for funds. It could be a company. It also could be a limited partnership…
read moreThere are two kinds of loans: secured loans and unsecured loans. In a secured loan, the borrower pledges its assets as collateral/security for the loan. If the borrower cannot pay…
read moreIn Canada, an investor needs to retain a lawyer to review legal documents, conduct due diligence, close the transaction, etc. Who will pay the investor’s legal fees? If the investment…
read moreSome people ask their own clients, friends or relatives to invest a project by buying shares, and then earn a commission. In Ontario, only the registered dealers can do this.…
read moreIn Canada, whether or not the contract is valid depends on several factors. One of them is that all the signing parties must have legal capacity to sign the contract.…
read morePeople naturally want their contracts to become effective when signing them. But some contracts are the initial negotiation results, such as letter of intent (LOI), memorandum of understanding (MOU) and…
read moreAfter signing the purchase agreement for a business or estate, the seller does not want to sell the business or the real property. If there are conditions which need to…
read moreMany contracts have a clause restricting assignment. For example, in a lease contract, the landlord prohibits the tenant transferring the lease to a third party without consent of the landlord.…
read moreMost people think that securities law applies to the public companies only, and private companies do not need to worry about securities law. This is not correct. In Canada, private…
read moreSome investors think that buying a business means buying real estate, and they are using the OREA real estate purchase agreement. For example, a company is selling assets in a bankruptcy…
read moreThe interests of both parties in a transaction are in conflict. A lawyer cannot represent both parties. A lawyer serves his/her client and protects his/her client’s interests. If there is…
read moreIt is a good time to retain a lawyer when you found the target project. The client should communicate with lawyers during negotiation. Sometimes lawyers need to join in the…
read moreSome Chinese clients think that Canadian contracts are too complicated. In comparison, Chinese contracts are usually simple. From my understanding, one of the reasons is that there are contract law…
read moreWhen acquiring a company, the seller provides financial information, such as profit. Both parties agree to a selling price based on the financial information. What if the profit after closing…
read moreSomeone asked what kind of law I practice. I practice corporate and securities law. Corporate law mainly deals with acquisition, merger, investment, etc. Securities law mainly deals with going public,…
read moreSome clients do not understand what due diligence is. When acquiring a business, the investor should conduct three types of due diligence before investing: business due diligence (usually conducted by…
read moreIf a Chinese company would like to go public, they must give up on using two books of financial statements. For tax purpose, some Chinese companies intentionally decrease the profit…
read moreSome client told me that they would like to invest in a private company and acquire 50% of shares of the company. I would ask how much they will pay…
read moreSome clients request the template shareholders’ agreement and want to simply change the name and date of the shareholders’ agreement. This should never be done. Each company has its own…
read moreOntario (and QB, MN, NS, SK, NB) Multilateral Instrument 45-108 Crowdfunding became effective on January 25, 2016. The major requirements are the following: 1. Head office of the issuer is…
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