What is the burden of proving that a party asserting accommodation party status received no value in exchange for their execution of a promissory note?
Ontario, Canada
The following excerpt is from James v. Chedli, 2020 ONSC 3235 (CanLII):
The burden of proof is on a party asserting accommodation party status to prove that they received no value in exchange for their execution of the promissory note: Bank of Montreal v. Bonner, 1988 CanLII 3290 (B.C.S.C.), at para. 90.
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