Demand Promissory Notes and the (New) Ontario Limitations Act

Hare v. Hare (218 O.A.C. 164), a December 2006 decision of the Ontario Court of Appeal, has important ramifications for the use of demand promissory notes in tax planning. Legal and tax planners should be aware that standard drafting language used in promissory notes may bring about unintended consequences.

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Source: Tax & Trusts Group at Cassels Brock

Published under: Legal Remedies
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