Corkins v. Collins

Corkins v. Collins

The Supreme Court affirmed the concurrent factual finding that the shares were worth about 5.5 cents each at the date of death; held that market quotations are prima facie but not conclusive evidence of value and that, applying s.114 R.S.B.C. (as amended), the estate was below the $20,000 threshold so the widow was entitled to the whole estate; concurrent factual findings would not be disturbed absent a shown error.

Citation
[1936] SCR 37
Parties
Appellants: Thomas R. Corkings and Another; Respondent: Amelia Collins; Defendant: The Toronto General Trusts Corporation
Court
Supreme Court of Canada
Jurisdiction
Canada
Judgment Date
12 February 1936
Procedural Posture
Appeal Estate Administration / Appeal to Supreme Court of Canada From the Court of Appeal for British Columbia
Outcome
Appeal dismissed with costs; judgment of Court of Appeal for British Columbia affirmed.
Legal Topics
Intestacy, Valuation of Estate Assets, Stock Market Valuation, Standard of Review for Concurrent Findings
Source Language
English
Estates Succession Property Valuation Intestacy Valuation of Estate Assets Stock Market Valuation Standard of Review for Concurrent Findings

Case Brief

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Parties

Thomas R. Corkings and Another

Appellants

Amelia Collins

Respondent

The Toronto General Trusts Corporation

Defendant

Procedural Posture

Appeal Estate Administration / Appeal to Supreme Court of Canada From the Court of Appeal for British Columbia

Legal Issues

  1. 1 Proper date and method for valuing shares of the deceased for intestacy purposes
  2. 2 Whether stock market price at date of death is conclusive evidence of value
  3. 3 Whether the net estate exceeded statutory $20,000 threshold entitling next of kin versus widow

Ratio Decidendi

The Supreme Court affirmed the concurrent factual finding that the shares were worth about 5.5 cents each at the date of death; held that market quotations are prima facie but not conclusive evidence of value and that, applying s.114 R.S.B.C. (as amended), the estate was below the $20,000 threshold so the widow was entitled to the whole estate; concurrent factual findings would not be disturbed absent a shown error.

Court Disposition

Appeal dismissed with costs; judgment of Court of Appeal for British Columbia affirmed.

Orders

  • Appeal dismissed with costs.
  • Respondent entitled to the whole estate under s.114 R.S.B.C. as amended.