Blog: Business Law

Upcoming Seminar: Michelle Karby Speaks on Business Exit Planning

Owen Bird’s Michelle Karby will be participating in an upcoming expert panel on Business Exit Planning on October 11th in Langley.

This event will feature a series of expert discussions created specifically for business owners and trusted advisors.  Attendees will learn more about the exit planning process, current best practices and how a diverse group of expert advisors, working in a coordinated and collaborative way, help business owners maximize the transferable value of their business and leave on their terms.

Discussion will be interactive with time for attendee questions as well as links to resource materials, tips,…

Game Winner! Chicken Dinner! Legalization of Single-Event Sports Betting in Canada

On February 17, 2021, the House of Commons overwhelmingly passed the second reading of Bill C-218[1], which seeks to decriminalize sports betting on single events, with 303 votes in favour of the bill and 15 opposed[2]. The current prohibition on single-event sports betting is pursuant to section 207(4)(b) of the Criminal Code of Canada[3], which prevents this type of “lottery scheme”. Bill C-218 is a private member’s bill that was introduced in February 2020 by Kevin Waugh, Conservative Member of Parliament for Saskatoon-Grasswood.

The current sports betting regime only allows Canadian entities to book…

Categories: Business Law

Discretionary Rights within Contracts Must be Exercised in Good Faith

In addition to the precise obligations required from parties to a contract, a common feature seen among contracting parties are options more formally referred to as “discretional rights”. As the name suggests, these rights afford parties certain latitude in the manner in which contractual rights may be performed. Although these tools afford parties flexibility with respect to contractual performance, the Supreme Court of Canada (the “SCC”) has recently decided that these rights (or options) must be exercised in good faith.

The general doctrine of “good faith” is a longstanding organizing principal recognized under Canadian contract law. This duty imposes a…

BC Government Introduces “Benefit Companies”

The Government of British Columbia intends to amend the Business Corporations Act (“BCBCA”) to include a new type of company – a benefit company. This amendment is set to take place on June 30, 2020.

A benefit company is a for-profit corporation that dedicates itself to conducting responsible and sustainable business and to promoting a public benefit(s). A public benefit includes any activity that positively impacts a group outside of the corporation’s shareholders. For example, an educational group, the local community, the environment, or a charitable organization. A list of possible ‘public benefit’ activities can be found here.


Categories: Business Law