The applicant sought specific performance of a share transfer agreement to acquire 25% of the shares in two privately held corporations from the respondent.
The respondent opposed, arguing the agreement was unclear, unconscionable, signed under duress, barred by estoppel, and outside the limitation period.
The court utilized its enhanced fact-finding powers to resolve the application without a trial.
The court found the agreement valid, clear, and supported by consideration in the form of significant personal guarantees provided by the applicant's principal.
The court rejected the respondent's defenses and ordered specific performance, finding that the shares were unique and damages would be inadequate.