How have the courts in BC considered the nature of an operating line of credit under which the petitioner bank has issued a demand letter?
British Columbia, Canada
The following excerpt is from The Toronto-Dominion Bank v. Rismani, 2015 BCSC 596 (CanLII):
In CIBC v. Probe, 2003 BCSC 1224, Mr. Justice Williams considered the nature of an operating line of credit under which the petitioner bank had issued a demand letter notwithstanding the respondent was not in arrears of payment. The respondent argued that no reason had been given by the bank and that the bank owed an obligation of good faith before calling the loan. Mr. Justice Williams said at paras. 28 – 30:
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