Bijural Terminology Records

Common Law

delivery

Civil Law

delivery

Title of the Legislative Text

Canada Business Corporations Act, R.S.C., 1985, c. C-44

Provision

2. (1) ...
"call" means an option transferable by delivery to demand delivery of a specified number or amount of securities at a fixed price within a specified time but does not include an option or right to acquire securities of the corporation that granted the option or right to acquire;

"put" means an option transferable by delivery to deliver a specified number or amount of securities at a fixed price within a specified time;

Problem

Only civil law terminology "tradition" is used in the French version.

To ensure consistency with legislation dealing with negotiable instruments, the term "livraison" must be used.

The concept of "transfert" is broader than "tradition" or "livraison" and is not found in the English version. As well, "transfert" is not a way of negotiating a negotiable instrument.

Solution

In the French version, "tradition" is replaced by "livraison", and "transfert" is deleted.

Harmonized Provision

(Amendment to the French version only)

2. (1) ...
« option d'achat » Option négociable par livraison qui permet d'exiger que soit livré un nombre précis de valeurs mobilières à un prix et dans un délai déterminés. Est exclu de la présente définition l'option ou le droit d'acquérir des valeurs mobilières de la société qui l'a accordé.

« option de vente » Option négociable par livraison qui permet de livrer un nombre précis de valeurs mobilières à un prix et dans un délai déterminés.

Federal Law-Civil Law Harmonization Act, No. 3, S.C. 2011, c. 21, s. 13(3).

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