Legal Remedies
Disclaimer: These articles are intended to provide only general legal information, not legal advice; for advice specifically about a particular case, consult a lawyer.
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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Disclaimer: These articles are intended to provide only general legal information, not legal advice; for advice specifically about a particular case, consult a lawyer.