Canada Law

Ask a Canada Law Question, Get an Answer ASAP!

Ask an Expert,
Get an Answer ASAP!

I was just on and you said Immigration Lawyer and that is…

Customer Question
I was just on...

I was just on and you said Immigration Lawyer and that is not what I was needing.. I did not see the choice above to select Real Estate Lawyer. I need a Canadian Lawyer. I am from Alberta.

Lawyer's Assistant: Have you filed any paperwork with the USCIS (U.S. Citizenship and Immigration Services) yet?

This is NOT immigration related

Lawyer's Assistant: Have you talked to a lawyer yet?

Only briefly

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

I need a lawyer that has CORPORATE knowledge not immigration.I am writing on behalf of my son. He is a realtor. He purchased 25% of his real estate brokerage from his 3 partners personally. He has paid $46K of the $80K value. He left the brokerage in August due to breach of trust issues. He has offered for them to buy his shares back for only $26K(a $20K discount just to get out). The broker is holding all of his commission cheques until he pays out the shares. Future commissions closing through that broker will also be held. The Real Estate Council of Alberta does not govern over broker/associate agreements so he would have to go to Civil Claims court. Unless you have alternative option. Does he have any leverage over them if he stays a shareholder or does it tie their hands in any way. He has no $ to begin with to pay his shares out if he does not get his commissions, and why would he wish to pay them more $ and have even more equity in a business he has no desire to be in business with. He paid $80K in Sept/16 which was way over valued to begin with, but they admittely said they were over priced as based on future earning power. Withholding his commissions could crush him financially. Really need advice. Thank you. IMMIGRATION LAWYER?????

Submitted: 8 months ago.Category: Canada Law
Show More
Show Less
Ask Your Own Canada Law Question
Answered in 1 minute by:
9/8/2017
Lawyer: Debra, Lawyer replied 8 months ago
Debra
Debra, Lawyer
Category: Canada Law
Satisfied Customers: 104,621
Experience: Lawyer
Verified

Hello! My name is Debra (formerly known as Legal Ease). Thank you for your question. I'm reviewing it now, and will post back again shortly.

Ask Your Own Canada Law Question
Lawyer: Debra, Lawyer replied 8 months ago

I am a lawyer in Canada and happy to help.

Did he sign a shareholder agreement with them?

Ask Your Own Canada Law Question
Customer reply replied 8 months ago
No there was no shareholder agreement
Lawyer: Debra, Lawyer replied 8 months ago

When he earned his commissions was he an employee of the brokerage?

Ask Your Own Canada Law Question
Customer reply replied 8 months ago
If I choose call option, how long is call and can you serve me better. If we type, I can copy/paste answers so have all your info handy to pass on to him
Customer reply replied 8 months ago
Where are you located Debra?
Lawyer: Debra, Lawyer replied 8 months ago

There is no need for a call. The site offers it. I am not offering it.

I am in Ontario.

Ask Your Own Canada Law Question
Customer reply replied 8 months ago
No he is a contractor not an employee. We've called labor standards alberta and nothing they can do. We've called RECA and out of their jurisdiction.
Customer reply replied 8 months ago
Just wondering if he has any leverage back against them as a shareholder. If him retaining 25% will cause them grief in any way,. so that in their best interests to buy his shares back. Otherwise its all in their court and they just keep his commissions.
Lawyer: Debra, Lawyer replied 8 months ago

So essentially, they owe him the money for the commission but he owes them the money for the shares.

If he sues he will succeed in getting his commission. But if he sues they will counterclaim and unless he can prove their breached their agreement with him they will win their lawsuit.

He made them a good offer but they are not required to take any offer.

So this is a civil and it may be that that rather than ending up in court he should retain a lawyer who can send them a letter threatening court if this cannot be resolved and then perhaps they consider a mediator?

There was a huge mistake made on all their parts and that is that there is no shareholder agreement so they don't have to buy his shares back. Had their been a proper agreement then there would have been a provision to deal with this.

Does that make sense? He may not want to spend money on legal fees now but you can tell him that had he seen a lawyer from the start he would not be in this position now.

Please feel free to post back with any follow-up questions you may have. If you don't have any then I hope I have earned a 5 star rating but if you don't feel that I have please don't hesitate to reply back and let me know what more I can do to assist you. Finally, please know that even after you rate me I will be here for you and you can ask follow-up questions if you think of them later on at no further charge of course.

Ask Your Own Canada Law Question
Customer reply replied 8 months ago
Ironically it is his own company (brokerage) that he owns shares in, that is not paying him his commissions.
Lawyer: Debra, Lawyer replied 8 months ago
essentially, they owe him the money for the commission but he owes them the money for the shares. If he sues he will succeed in getting his commission. But if he sues they will counterclaim and unless he can prove their breached their agreement with him they will win their lawsuit. He made them a good offer but they are not required to take any offer. So this is a civil and it may be that that rather than ending up in court he should retain a lawyer who can send them a letter threatening court if this cannot be resolved and then perhaps they consider a mediator? There was a huge mistake made on all their parts and that is that there is no shareholder agreement so they don't have to buy his shares back. Had their been a proper agreement then there would have been a provision to deal with this.Does that make sense? He may not want to spend money on legal fees now but you can tell him that had he seen a lawyer from the start he would not be in this position now.Please feel free to post back with any follow-up questions you may have. If you don't have any then I hope I have earned a 5 star rating but if you don't feel that I have please don't hesitate to reply back and let me know what more I can do to assist you. Finally, please know that even after you rate me I will be here for you and you can ask follow-up questions if you think of them later on at no further charge of course.
Ask Your Own Canada Law Question
Customer reply replied 8 months ago
he would go to Civil Court against his own company 2% Realty Edge, and they would in turn have to each go to court individually against him to get the balance of their share monies.
Yes, what you say is exactly as we already understand....civil court. My biggest question again that has not been answered is....does he have any leverage against the company by owning the 25% shares. Anything that will force them to buy them back. For example should they wish to dissolve the company or do something that requires signing authority by all shareholders etc. He said he was told that only 2 shareholders are required to sign on documents so they can carry on as per usual in most circumstances. Any circumstance that they would Need HIM OR his siganture?
Customer reply replied 8 months ago
Also if there is no shareholder agreement, then he would have the option to sell his shares to someone else if they wish not to buy them back. He could then offer the new buyer a discount as well as an incentive. Can they stop him from selling to anyone else? There is technically a lien on the shares as he has not paid them each off yet, howeve there are no loan documents, just an email outlining how much he would pay each of them monthly.
Lawyer: Debra, Lawyer replied 8 months ago

He cannot force them to buy the shares back. He failed to have an agreement that would have had that provision in it.

His signature is not needed if their by-laws say only two signatures are needed. I don't know what they say, what they signed with the bank or what they agreed to.

But he has no leverage unless they are harming him or the corporation. If they are he can sue as a minority shareholder using an oppression remedy.

But he cannot simply decide not to pay what he owes them and expect that things will continue on. He owes the corporation the money unless he can prove they breached their contract with him.

He can sell the shares if they were his but he hasn't paid for them yet. He has to pay all he owes first.

Ask Your Own Canada Law Question
Customer reply replied 8 months ago
He has proof of breach of trust with 2 of the 3 partners which is why he has left and went to another brokerage.
I may be wrong, but is this not similar to owning a home for $80K which you have equity of $40 and wish to sell. You obtain a buyer and sell and bank gets balance of their $. He has title to the shares which can he not find a buyer for, get the money and then pay the shareholders?
Lawyer: Debra, Lawyer replied 8 months ago

He could do the sale at the same time as he pays off them off. That would work.

Ask Your Own Canada Law Question
Customer reply replied 8 months ago
He has no signing at the bank. That was in progress but did not happen. Is there anything at all that he could have leverage on them with as a shareholder.
Would this not be similar to if someone couldn't make their payments on a home. Bank forecloses and sells home and you would still get your equity back, less of course any fees. All depending on sale price. Trying to think of an anology to the situation. Why would he invest even more, when he wants out.
Customer reply replied 8 months ago
Is it his right to ask for a copy of any Shareholder Agreement, Broker/Associate Contract etc. He has asked and they are not providing or said there is none. Would minute book likely be with lawyer or is it his right to see it?
How much has this cost so far? Sorry, counting pennies with this situation when he has no $ coming in because of situation.
Lawyer: Debra, Lawyer replied 8 months ago

You are not charged for going up and back with me.

I thought there was on shareholder agreement. If there is then his rights are set out there.

He has a right to all this information and documentation.

He would invest more because he agreed to do so. He is incorrect unless they breached their contract with them. This is not where there is an asset and a debt. This is a binding contract. It is where someone buys a house and then doesn't pay the full amount at the closing date really if you are looking for an analogy. Then the excuse could be they saw they were not getting what they were told they were getting.

Ask Your Own Canada Law Question
Customer reply replied 8 months ago
Just wondering how there can be a "binding contract", if there is no contract to be found? He is pretty sure there is no shareholder agreement....but not 100% as they will not provide anything to him.If they have without question breached his trust which is why he wishes to leave the brokerage, can that be used. For example, one of the partners was taking all of the website leads when they were to be rotating throughout the brokerage to all the agents. When asked if there were any leads on the website he said "no". When there was inquiry with the web manager, there were in fact many leads that he kept to himself. Just one example of breach of trust.
Customer reply replied 8 months ago
What proof would there even be that he has or hasn't paid them, since payments were to them as individual shareholders not the corporation.
Customer reply replied 8 months ago
If he pays them the balance of the shares...then what leverage does he maintain to get his commissions. I will attach a file outlining the share loan summary if that provides more info. He stopped paying them several months ago after the breach of trust and other continuing issues.
Customer reply replied 8 months ago
Sorry, you said I am not charged for going up and back with you, which is great. TY but I do wish to know what my initial charge will be please. ty
Customer reply replied 8 months ago
He also has good indication from previous conversations that they are planning to dissolve the company in the future and open a new company with a different business model. Then why would he wish to put more $ in when he paid too much in the first place for the shares. Yes, he should have seeked legal council in the beginning, but did not, so here he is....
Customer reply replied 8 months ago
Are you still here? :O)
Customer reply replied 8 months ago
In response to your anology. So if the home buyers changed their mind prior to closing, because they decided it was not what they want, so they would just lose their deposit. In this case, there was clearly breach of trust so he was not getting in business with the type of partners he expected, so wishes to not continue with them, so he is wanting out and offering a 20K discount off of what he has invested so far to date. Would a mediator not think this was reasonable?
Lawyer: Debra, Lawyer replied 8 months ago

I am sorry for the delay. I had an unexpected visitor.

I don't know what the charge is as I don't work for the site. I am a practicing lawyer and I just log in the way you do and see a list of questions and choose which to answer.

No the home buyers would not at all just lose their deposit. They would be sued for breach of contract and would be liable for all damages sustained by the seller.

The mediator has no decision making role. They are trained to assist parties to come to an agreement.

Ask Your Own Canada Law Question
Lawyer: Debra, Lawyer replied 8 months ago

Is there anything more I can help you with at this point in time?

Ask Your Own Canada Law Question
Was this answer helpful?
Ask Debra Your Own Question
Debra
Debra
Debra, Lawyer
Category: Canada Law
Satisfied Customers: 104,621
104,621 Satisfied Customers
Experience: Lawyer

Debra is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Your Expert confirmed everything that I had been told, and didn't want to believe. Thank you for putting my mind at rest.

MonikaCanada

This has been very helpful. I'm glad to see that lawyers and sites like this exist. Thanks for your help.

MikeHalifax, NS

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

< Previous | Next >

Meet the Experts:

Tom B.

Tom B.

Barrister & Solicitor

2,263 satisfied customers

25 years in practice

LawyerProfessor

LawyerProfessor

Lawyer

836 satisfied customers

Experienced Litigation Lawyer in Ontario since 1999 and NY since 1997

Debra

Debra

Lawyer

104,621 satisfied customers

Lawyer

Jeremie John Martin

Jeremie John Martin

Lawyer

839 satisfied customers

I'm a bilingual attorney for the province of Quebec who goes to Court often for many clients.

Sokkalaw

Sokkalaw

Lawyer

312 satisfied customers

Lawyer in Ontario, Canada

CaptanLaw

CaptanLaw

Lawyer

224 satisfied customers

I'm a criminal defence lawyer, who assists individuals charged with crimes.

Mark A

Mark A

Lawyer

179 satisfied customers

Canadian Lawyer working at a Canada Law Firm

< Previous | Next >

Related Canada Law Questions
I live in Vancouver Canada MY son signed into a contract for
I live in Vancouver Canada MY son signed into a contract for kick boxing evenings...He gave them 1500.00 cash for 1 year and now has changed jobs and cant attend their classes..They were rude to him w… read more
Debra
Debra
Lawyer
104,621 satisfied customers
Was divorced in 2003 but was a wreck emotionally. Looking
was divorced in 2003 but was a wreck emotionally. Looking back I know I could have had a better settlement. So many yrs later as I face retirement is there any way I can renegotiate terms of the divor… read more
Debra
Debra
Lawyer
104,621 satisfied customers
I am finalizing a custody agreement with my ex. She has seen
Hello, I am finalizing a custody agreement with my ex. She has seen the kids 5 times in the last year and is willing to sign over custody, but she wishes to keep her parental rights in regards ***** *… read more
Debra
Debra
Lawyer
104,621 satisfied customers
I'm applying for a Canadian study permit VISA from outside
Hi,I'm applying for a Canadian study permit VISA from outside Canada, with my wife and two minor children (12 and 9 years old) accompanying me.- My wife is applying for an open work permit (form 1295e… read more
Debra
Debra
Lawyer
104,621 satisfied customers
Would a canopy from my truck be allowed to be stored on the
Would a canopy from my truck be allowed to be stored on the power Lin on my property … read more
Debra
Debra
Lawyer
104,621 satisfied customers
I think my landlords are going to try to throw me out
I think my landlords are going to try to throw me out illegally because they dont like me … read more
Debra
Debra
Lawyer
104,621 satisfied customers
We live in Lake, Alberta and are under contract on a house.
We live in Slave Lake, Alberta and are under contract on a house. Our conditions are: sale of our home and Home Inspection. Our financing is in place. Another offer came in on this home we are under c… read more
Debra
Debra
Lawyer
104,621 satisfied customers
My ex fiancée wrongly accused for psychiatric evaluation and
Hi my ex fiancée wrongly accused for psychiatric evaluation and he got the justice of peace orders for psychiatric evaluation . I was taken to mental health and addiction facility and I have no issues… read more
Debra
Debra
Lawyer
104,621 satisfied customers
My common law partner want to leave relationship. i have
my common law partner want to leave relationship. i have looked at the calculator we've been together 8 years he's 54 I'm 45. he makes 600,000.... when you look at calculator it says something about m… read more
Debra
Debra
Lawyer
104,621 satisfied customers
I entered my SIN and mother's maiden name on a scam email I
I entered my SIN and mother's maiden name on a scam email I thought was from PayPal. I did not submit but did go to the screen after the first one before I exited.What should I do? … read more
Debra
Debra
Lawyer
104,621 satisfied customers
I was i an a trailer park for 4 years three weeks ago a site
i was i an a trailer park for 4 years three weeks ago a site came up in another park and i am moving to that park. When i got the new spot two days later i went to the old park to start packing. The o… read more
Debra
Debra
Lawyer
104,621 satisfied customers
I just have a quick question - I am in the process of
Hi there, I just have a quick question - I am in the process of starting a claim against a past lawyer of mine for negligence. I have also filed a Law Society complaint, and they have now asked for va… read more
Debra
Debra
Lawyer
104,621 satisfied customers
It is about the Organized stalking /gang stalking network in
It is about the Organized stalking /gang stalking network in the cities, harassing stalking following intimidating spreading lies and fabricated files … read more
Debra
Debra
Lawyer
104,621 satisfied customers
Can someone file a certificate of pending litigation pro se
Can someone file a certificate of pending litigation pro se in ontario … read more
Debra
Debra
Lawyer
104,621 satisfied customers
I am curious about whether or not I can determine if I have
Hello. I am curious about whether or not I can determine if I have a case that an employment lawyer would take … read more
Debra
Debra
Lawyer
104,621 satisfied customers
How do I find a lawyer who can advize me howq to write the
how do I find a lawyer who can advize me howq to write the perfect petition to a university? … read more
Debra
Debra
Lawyer
104,621 satisfied customers
We had fire accidents in my house, however there was no
We had fire accidents in my house, however there was no smoke detector working at that time ?? … read more
Debra
Debra
Lawyer
104,621 satisfied customers
I conTRACTED WITH LAWYER TO GET A GEOTECT COMPANY TO PAY FOR
I conTRACTED WITH LAWYER TO GET A GEOTECT COMPANY TO PAY FOR MY TILTING HOME; ONCE THEY GOT THEY FEES THEY COMMENTED i SETTLE; … read more
Debra
Debra
Lawyer
104,621 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x