1 definition found for this term.
Definitions are presented in the order source books were published (most recent first).
A claim against the corporation issued by the directors in exchange for money, property, or past services, the characteristics of which are defined by the provisions in the corporation’s articles creating the class of shares. There are also certain mandatory rules in corporate law about shares, such as the rule that all shares of a class must be treated equally. See CBCA, s. 25.