The Supreme Court of Canada (‘SCC’) has clarified the rules of contractual interpretation in its recent decision, Sattva Capital Corp v Creston Moly Corp. This decision, which centers on the interpretation of a finder’s fee clause in a commercial contract, affirmed the contextual approach to contractual interpretation, which allows decision-makers to take ‘surrounding circumstances’ into account when attempting to determine the parties’ intentions. The Court also confirmed that the standard of review for commercial arbitration decisions was reasonableness and that appellate courts must pay considerable deference to commercial arbitrators.
Your relationship with a bank is governed by a contract. Banks are allowed to terminate this contract for any reason, so long as they provide reasonable notice to the customer of the termination. What they do not have to do, according to a recent judgment, International Relief Fund for the Afflicted and Needy (Canada) v. Canadian Imperial Bank of Commerce is explain why.
We are pleased and excited to introduce Business Law Focus, a new blog published by the Nelligan O’Brien Payne LLP Business Law Group, which will replace our newsletter. Through our regular posts, we will provide you with relevant and timely news on all areas of business law, including business organizations and incorporation, corporate governance, acquisition, reorganization, corporate financing, shareholder agreements, commercial contracts, succession, insolvency, collections and more for businesses throughout Ontario and across Canada.