The appellant appealed a trial judgment finding an enforceable contract for the sale and delivery of shares to the respondent.
The trial judge found the contract was partly written and partly oral, with all essential terms agreed upon, including the provision of $1 million in shares priced at half market value as of the respondent's start date.
The Court of Appeal upheld the trial judge's findings, noting there was a clear meeting of the minds and no palpable error.
The respondent's cross-appeal regarding the assessment of damages was also dismissed, as the trial judge was justified in fixing the assessment as of the notice of termination date.
Both the appeal and cross-appeal were dismissed with no costs.