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Contracts for the Sale and Purchase of Land: Purchasers’ Remedies, Final Report 97


Under the present law of Alberta, specific performance of a contract for the sale and purchase of land will not be granted to the purchaser under the contract unless the land is unique in the sense that no substitute is readily available. In 1996, the Supreme Court of Canada, in Semelhago v Paramadevan, said that it is no longer the case that every piece of real estate is unique and that it therefore cannot be assumed […]

AREA OF LAW Corporate and Commercial Property Real Property
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FORMAT Publications
FILE fr97.pdf

October 29, 2009

Contracts for the Sale and Purchase of Land: Purchasers’ Remedies, Report for Discussion 21


This report addresses the current state of the law (as of the time of publication) concerning situations where a purchaser of land has fulfilled his or her obligations under the purchase contract, but the vendor has not transferred the land. In Semelhago v. Paramadevan, [1996] 2 SCR 415, the Supreme Court of Canada determined that in most such cases, the purchaser will be entitled to damages, but not specific performance (i.e., receipt of the land in […]

AREA OF LAW Corporate and Commercial
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FORMAT Publications
FILE rfd021.pdf

March 2, 2009

Transfers of Investment Securities, Final Report 67


This report is long and presents a comprehensive review of the existing law governing transfers and pledges of investment securities in Alberta. It contains a detailed examination of a wide range of issues that relate to current securities trading and holding practices. It proposes that uniform legislation be developed in consultation with other Canadian jurisdictions, but does not include draft legislation. The Alberta Business Corporations Act is the current Alberta law governing transfers of investments securities and […]

AREA OF LAW Corporate and Commercial
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FORMAT Publications
FILE fr067.pdf

June 29, 1993

Purchase by a Company of Shares Which It Has Issues, Final Report 22


This report contains draft legislation and recommends that a company incorporated under the Alberta Companies Act be permitted to purchase shares which it has issued. Under the recommendations, the portion of the price representing the consideration received by the company for issuing the shares in the first place must be allocated to reducing paid-up capital. Furthermore, the remainder of the price may be deducted from any surplus account that the directors designate. This power may […]

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FORMAT Publications
FILE fr021.pdf
ENACTMENT

The Companies Amendment Act, 1977, SA 1977, c 13, s 2 (now Business Corporations Act, RSA 2000, c B-9, ss 30 and 31).

January 1, 1977