Is equitable set-off a defence to a claim on a bill of exchange?
Ontario, Canada
The following excerpt is from Temple v. Moorey, 2019 ONSC 2283 (CanLII):
In King v. McHugh (2009), 82 C.P.C. (6th) 263 (ONSC), the court applied this reasoning. At para. 13, Mr. Justice Gunsolus explained: The rule that equitable set-off cannot be asserted as a defence to a claim on a bill of exchange is a well settled one, with the principle basis being supported by many years of jurisprudence. The principle underlining the rule is that a bill of exchange is meant to be in the nature of cash….
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