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Lawyer Toronto I Blog

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Legal Basics Buying a Franchise – Franchise Lawyer’s Role

In Ontario, the sale and purchase of a franchise is governed by the Ontario provincial Statute Arthur Wishart Act (Franchise Disclosure), 2000, S.O. 2000, c. 3 - Bill 33 (the "Act"). The Act was drafted to ensure transparency between a Franchisor and a Franchisee. To protect the Franchisee, section 5(1) of the Act provides that a Franchisor must disclose and deliver all important facts relating to the franchise, financial statements, copies of all relevant agreements to be signed by the Franchisee, and any other statements that help in making the investment decision to the Franchisee at least 14 days before...

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Remedies for Breach of Contract

To avoid contract disputes and the domino effect of a badly written contract, it is important to hire an experienced and detail-oriented contract lawyer to professionally draft your contracts. That would be the best preventative measure to ensure that you are legally protected years ahead. However, if there has been a breach of contract, this is what you need to know. Broadly speaking, the remedies for breach of contract are threefold. Monetary Awards A monetary award in Canadian dollars or damages is the standard remedy for breach of contract. When calculating this award, the importance lies in considering the recognizable heads of...

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What is an Asset Purchase? When to opt for it.

When looking to invest or grow a business, a common investment strategy is the purchase of another business's shares or assets. Another option is statutory amalgamations which will be discussed in another blog post. Share Purchase Transactions Share Purchase Transactions, on the one hand, represent approximately 65% of private equity acquisitions in Canada. A "Share Purchase Transaction" is when a buyer buys some or all of a company’s shares. In a partial share sale (less than 100% of the shares), the buyer will become a shareholder alongside the other shareholders of the company. From a legal conveyancing perspective, the simple delivery...

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The Fixed-Fee Makes You Feel Better… But Is It Doing Your Pocket Some Good?

Many of us, including myself, hear lawyers and businesses claim things like "I would never charge an hourly rate" as if to imply that the hourly rate model is a cruel, terrible and horrifying way of charging. Is it really so, however? In this article, I will be explaining why you are basically falsely buying into the illusion of security and "transparency" when charged a flat rate in advance. What is it that makes the hourly-rate model, specifically for legal services, so frightening and upsetting that it would make some professionals think that throwing a flat rate on legal work...

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Is the Startup Visa program for you? Debunking the biggest misconception.

Many entrepreneurs around the world are interested in the startup Visa program that Canada has launched permanently a few years ago. Many of them believe that merely having a startup in Canada or the goal of establishing a startup in Canada qualifies them for the program. Unfortunately, that is not the case. The reason this program is very attractive to most foreign entrepreneurs is that it offers permanent residence upon the success of the Visa. To be eligible for this program however, one of the mandatory requirements, which is the most difficult requirement to satisfy, is to be endorsed by an investment...

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Does a valid Contract have to be in writing?

The simple answer is: no. A contract is an agreement. It is legally defined as a "meeting of the minds". If you can prove that there is a meeting of the minds, you have proof of a contract. A meeting of the minds is when two parties agree to the same basic elements. Those elements are: Making an offer and accepting that same offer. The offer must be specific enough so as to discern what exactly is being offered, when, and for what value in exchange (point number 2 below) ; An exchange of value that is agreed upon (e.g. services, money, goods...

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