Solicitor Bar Exam Ontario Review Exam With 100% Correct Answers.

deemed dividend calculation {Ans: redemption proceeds - corporation PUC}PUC calculation {Ans: stated capital / # of shares paid}Under the BIA, what is generally the first step in corporate restructuring? {Ans: To commence corporate restructuring the directors must pass a resolution at a shareholders meeting.}What is a correct statement about Franchises? {Ans: The Arthur Wishart Act imposes significant disclosure obligations on the franchisor. Both parties owe a duty of fair dealing to the other.}W is purchasing land to operate as a museum however, W is having difficulty obtaining financing. What remedy is available to the seller? {Ans: Repudiation occurs when a party acts in such a way as to permit the other party to assume they no longer intend to complete the transaction.}What happens when a company enters receivership? {Ans: Receivership is where a secured creditor takes control of the assets of a company to settle debts.}