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On November 13, 2014, the Supreme Court of Canada released its long awaited decision on the issue of good faith in contractual performance.
The facts of Bhasin v. Hrynew (2014 SCC 71) are set out in brief as follows. Mr. Bhasin operated a business in Alberta selling RESPs on behalf of Canadian American Financial Corp (“Can-Am” ). After almost 10 years of successfully building his sales force, Mr. Bhasin and Can-Am entered into a new agreement governing their relationship featuring a three-year term which renewed automatically unless one party gave six months’ notice to
the contrary. More…