How does the limitation period apply to a delayed demand promissory note?
British Columbia, Canada
The following excerpt is from Dunn Estate v. TD Canada Trust, 2014 BCSC 292 (CanLII):
In the context of delayed-demand promissory notes, the court in Ewachniuk Estate v. Ewachniuk, 2011 BCCA 510, 211 A.C.W.S. (3d) 978 held that a cause of action arose upon the happening of the contingency – a delayed demand – so to trigger the ultimate limitation period, notwithstanding that the contingent event might never take place.
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