Can an investment be used in an investment clause?
Alberta, Canada
The following excerpt is from Prather v. King Resources Company, 1972 ALTASCAD 89 (CanLII):
Lawrence J. in In re Wragg, Wragg v. Palmer (1919) 2 Ch. 58 said at pp. 64 and 65:- "Without attempting to give an exhaustive definition of the words 'invest' and 'investment' I think that the verb 'to invest' when used in an investment clause may safely be said to include as one of its meanings 'to apply money in the purchase of some property from which interest or profit is expected and which property is purchased in order to be held for the sake of the income which it will yield'; whilst the noun 'investment' when used in such a clause may safely be said to include as one of its meanings 'the property in the purchase of which the money has been so applied'."
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