Harvela Investments v Royal Trust of Canada [1985]

Facts

  • The claimants submitted a fixed price bid for shares in the defendant’s company
  • Another party made a referential bid; of a fixed amount more than any other offers

Issue

  • Could such a referential bid be allowed

Decision

  • No, claim succeeded

Reasoning

  • As the defendants were bound to accept the highest bid, the referential bid did not have a fixed ammount attached to it and as such could not be accepted or even submitted
RELATED CASE  R&B Customs Brokers v United Dominions Trust [1988]

Posted in Contract Law Revision Notes.

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