What is the test for determining whether a debtor is insolvent to the knowledge of his creditor?
Ontario, Canada
The following excerpt is from Clarkson v. McMaster & Co., 1895 CanLII 44 (ON CA):
If the debtor had sworn that he was insolvent to the knowledge of his creditor, and the learned Judge had, nevertheless, adopted the creditor’s denial, the decision, according to Grassett v. Carter, should be decisive. Is more weight then to be given to a statement which might, and to some minds would, have fixed the creditor with the knowledge of his debtor’s circumstances than the evidence of the debtor?
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