What is the cause of action in relation to demand promissory notes?
British Columbia, Canada
The following excerpt is from Continental Steel Ltd. v. CTL Steel Ltd., 2015 BCSC 1672 (CanLII):
With respect to loans evidenced by demand promissory notes, the cause of action arises on the date the loan was made. This is because an action can be brought any time after the demand loan is made. No demand is necessary (Kong v. Sauders, 2014 BCCA 508 at paras 17 - 24).
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