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CONTRACT OF EMPLOYMENT - Express terms - Interpretation

Monday, February 13, 2017 @ 11:22 AM  

Appeal by the plaintiff, Hampton Securities, from partial summary judgment granted in favour of the defendant, Tassone. The plaintiff employed the defendant to trade securities using its capital. The plaintiff maintained a trading inventory account that recorded gains and losses resulting from the defendant's trades. The defendant was remunerated solely when his trades generated profits overcoming any accumulated losses. At the time of the cessation of the defendant's employment, his inventory account stood in a loss position of approximately $700,000. The plaintiff took the position the...