In a letter of understanding, in what circumstances have the courts interpreted the meaning of an arrangement for the purchase of shares?
British Columbia, Canada
The following excerpt is from Nixon v. Trace, 2008 BCSC 1178 (CanLII):
Arnott v. Tundra Steel Products Ltd.[4] involved an arrangement for the purchase of shares. In a letter of understanding describing that purchase, the parties used the following words: ... with the balance to be paid as agreed between the parties.
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