LAW 603 Chapter Notes - Chapter 21-23: Canada Business Corporations Act, Fiduciary, Chief Financial Officer
14 Nov 2017
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Chapter 20: 1-4, 6, 9, 11-12: magda is an artist. She entered into a contract with karl under which she gave karl the authority, for six months, to try to find a buyer for one of her paintings. After three months, karl had not been able to sell the painting and offered to buy it himself. Magda and karl entered into a contract under which karl agreed to buy the painting for . The contract provided that he would pay at the time the contract was signed and the balance within 30 days. After the expiry of 30 days, karl did not pay the balance. As an agent karl, would have a fiduciary duty to act in the best interests of his principal, Arguably, by failing to perform his contract obligation to pay the balance of the purchase price, he has breached this obligation. This conclusion is the same as that reached in arie v.
