2 total
Appeal for contract rectification dismissed as there was no mutual mistake regarding the definition of Gross Floor Area.
The appellant appealed a judgment dismissing its request for rectification of a definition in an Agreement of Purchase and Sale based on mutual mistake.
The dispute centered on the definition of 'Gross Floor Area' (GFA) and whether it should be rectified to correspond with a site-specific by-law rather than the City of Toronto By-law specified in the agreement.
The Court of Appeal dismissed the appeal, finding no mutual mistake because the respondent clearly intended to use the City of Toronto By-law definition to determine any increase in GFA.
Constructive dismissal finding upheld for demotion, but damages for broker warrants and interest set aside.
The appellant employer appealed a trial judgment finding it had constructively dismissed the respondent employee and awarding damages including amounts for broker warrants and interest on capital.
The Court of Appeal upheld the finding of constructive dismissal, agreeing that the employer's demand that the employee share his role as head of the corporate finance department constituted a fundamental change to his employment contract.
However, the Court allowed the appeal in part, setting aside the damages awarded for broker warrants because they had no value on the termination date, and setting aside the award of interest on the employee's capital because the shareholder agreement expressly precluded it.
