Is a renewal of a promissory note made and payable in Canada payable in a foreign country a good consideration for the renewal?
British Columbia, Canada
The following excerpt is from Tildesley v. Weaver, 1998 CanLII 6690 (BC SC):
In International Harvester Company of Canada, Limited v. Zarbok the plaintiff was entitled to recover on a renewal of a promissory note made and payable in Canada on the ground the law of the foreign state where the original note was made provided that a moral obligation to pay the original note constituted a good consideration for the new promise to pay.
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