What is the City's position that damage did not occur until the date of maturity of Devonshire notes matured?
Ontario, Canada
The following excerpt is from Hamilton (City) v. Metcalfe & Mansfield Capital Corporation, 2012 ONCA 156 (CanLII):
The City’s position that damage did not occur until the Devonshire notes matured is grounded in the damage element of negligent misrepresentation as it is phrased in Queen v. Cognos Inc., 1993 CanLII 146 (SCC), [1993] 1 S.C.R. 87, at p. 110: “the reliance must have been detrimental to the representee in the sense that damages resulted” (emphasis added).
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