Advances in medical care allow each generation to live longer than the last, and that means that each generation tends to wait longer for an inheritance. As baby boomers reach retirement age, their parents may just be reaching the end of their days.
The federal government has tabled a bill in the Senate that will make a number of important changes to the Canada Business Corporations Act (CBCA), the Canada Cooperatives Act, the Competition Act, and the Canada Not-for-profit Corporations Act.
For small- and medium-sized business owners, the question often arises of whether or not they should incorporate. As the Globe and Mail points out, as businesses grow, the benefits of incorporation tend to become more obvious.
Restrictive covenants, such as non-compete and non-solicitation clauses, have become increasingly common among Canadian businesses in recent years, as the Globe and Mail reports. Non-competition clauses, specifically, are now an important element of many employment contracts in both British Columbia and throughout the country.
The Supreme Court of Canada recently issued a major ruling concerning commercial contract law. The ruling settles a longstanding issue before both courts and businesses about the extent to which parties to a contract are expected to act honestly and in good faith – even when the contract itself does not stipulate a duty of good faith. While a duty of good faith has already been recognized in specific areas of commercial law, the recent ruling now requires a general duty of good faith in all commercial contracts.
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