Seaway Trust Co. v. PSA Insurance Brokers Ltd., (1984) 4 O.A.C. 128 (DC)
|Court:||Superior Court of Justice of Ontario|
|Case Date:||June 13, 1984|
|Citations:||(1984), 4 O.A.C. 128 (DC)|
Seaway Trust v. PSA Ins. Brokers Ltd. (1984), 4 O.A.C. 128 (DC)
MLB headnote and full text
Seaway Trust Company v. PSA Insurance Brokers Limited
Indexed As: Seaway Trust Co. v. PSA Insurance Brokers Ltd.
Ontario Divisional Court
June 13, 1984.
The plaintiff sued the defendant on a demand promissory note. A Master awarded the plaintiffs summary judgment. The defendant appealed.
The Ontario Divisional Court dismissed the appeal.
Negotiable Instruments - Topic 7705
Promissory notes - Defences - Availability of defences arising out of underlying transaction - The Ontario Divisional Court held that in an action on a demand promissory note, equities between the borrower and a third party based on an agreement to which the lender was not a party are unavailable to the borrower as defences - See paragraph 15.
Brown v. Aivdeychuk,  O.W.N. 298, refd to. [para. 15].
Alan Lenczner, and Paul Morrison, for the plaintiff (respondent);
W.G. Horton, for the defendant (appellant).
This appeal was heard before Smith, J., of the Ontario Divisional Court, whose decision was released on June 13, 1984.
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