What are the meaning of "receivable but received" in the context of a royalty agreement?
British Columbia, Canada
The following excerpt is from Noren Invt. Ltd. v. Brownie's Franchises Ltd., 1986 CanLII 853 (BC SC):
I agree with the submission of counsel for the plaintiff that those words should be given their plain and ordinary meaning (see Morel v. Lefrancois (1906), 1906 CanLII 56 (SCC), 38 S.C.R. 75 at 77 [Que.]) and mean in the context of the royalty agreement the royalties that are both received and receivable rather than in the sense of “received or receivable but not both”.
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