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

JudgeSmith, J.
CourtSuperior Court of Justice of Ontario (Canada)
Case DateJune 13, 1984
JurisdictionOntario
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

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.

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT