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Harvela Investments v Royal Trust of Canada [1985]


  • 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


  • Could such a referential bid be allowed


  • No, claim succeeded


  • 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
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