What is the test for recoverable damages under the provisions of the Bankruptcy and Insolvency Act?
Ontario, Canada
The following excerpt is from Ray v. Willson, 1911 CanLII 22 (ON CA):
But for some of the things which were said in the case of Smith v. Prosser, it would not have occurred to me that, even upon the findings of the trial Judge, there could be any doubt that this case was within the provisions of the enactment, and that the plaintiffs, being “holders in due course” to whom the note was transferred by an indorser after it had been filled up and made upon the face a complete instrument in all respects, are entitled to recover upon it.
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