Entries by Del Elgersma

Are Waivers Effective?

Many businesses require their customers to sign a waiver to release the business from liability for certain claims.  A recent court case upheld the validity of a fitness club’s waiver, and highlighted some of the issues that affect their validity.  A customer of the fitness club injured her shoulder and claimed the injury was due […]

BC Introduces Franchises Act

BC Introduces Franchises Act October 2015 BC is set to become the 6th province to regulate the franchise industry.  The Franchises Act was introduced in the legislature on October 5.  Once adopted, franchisors will be required to provide franchisees with a Franchise Disclosure Document (FDD) at least 14 days before a franchise agreement is signed.  […]

Joint Ownership with Children

A Simple Solution to Avoid Probate? “Probate” is a court application to confirm the validity of a Will. It is an increasingly complex process, and requires payment of a probate tax. For many couples, probate can be avoided on the first spouse’s death by joint ownership. Not surprisingly, after the first spouse dies, the family […]

Changes to the Friends and Family & Accredited Investor Exemptions

Subject to certain requirements, private companies can sell shares to friends and family and “accredited investors” without issuing a prospectus or hiring a registered securities dealer. These exemptions have been amended to require that companies take “reasonable steps” to confirm that investors meet the requirements of the exemption. Companies may no longer simply rely on […]

Honesty Isn’t Just the Best Policy…It’s the Law

In a unanimous decision, the Supreme Court of Canada ruled that parties to a contract have a duty to act honestly in the performance of their obligations. The Court noted that this “means simply that parties must not lie or otherwise knowingly mislead each other about matters directly linked to the performance of the contract”. […]

Estate Law Considerations

Executors Proceed Cautiously We last wrote to you about changes to BC Wills laws. Changes to our laws for processing Estates have also been made. The estate law overhaul doesn’t particularly require any action on your parts. A brief review of our take on today’s handling of estates follows….. Read more by clicking here to […]

Wills Laws Overhauled

Changes May Affect You This past March, British Columbia implemented major changes to its wills and estates laws. The new Wills Estates and Succession Act (“WESA”) consolidates four older acts, and modernizes the law regarding Wills and the administration of estates for BC residents. These changes may seem, on first blush, to be of little […]

PREPARE WISELY: SELLING YOUR BUSINESS

 Make the right deal to ensure a secure retirement Jeffrey owned a business that manufactured electronic navigation components sold around the world. He started the business at the same time that he and his wife Marilyn were starting their family. They had hoped that one or both of their children might be able to take […]