Seaway Trust Co. v. PSA Insurance Brokers Ltd., (1984) 4 O.A.C. 128 (DC)

Judge:Smith, J.
Court:Superior Court of Justice of Ontario
Case Date:June 13, 1984
Jurisdiction:Ontario
Citations:(1984), 4 O.A.C. 128 (DC)
 
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Seaway Trust v. PSA Ins. Brokers Ltd. (1984), 4 O.A.C. 128 (DC)

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Seaway Trust Company v. PSA Insurance Brokers Limited

Indexed As: Seaway Trust Co. v. PSA Insurance Brokers Ltd.

Ontario Divisional Court

Smith, J.

June 13, 1984.

Summary:

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.

Cases Noticed:

Brown v. Aivdeychuk, [1961] O.W.N. 298, refd to. [para. 15].

Counsel:

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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