The president and principal shareholder of McLeod and Company Limited, which is also the principal agent for the sale of the Cliffview Condominium Hotel Limited Partnership, has only one month in which to sell the minimum number of units required by the Ontario Securities Commission. If he fails, his firm will likely be bankrupt, and a number of investors would lose a considerable amount of money. The case deals with the ethics of "warehousing" in the securities industry.
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