Does a lender have a right to take action on a demand loan?
British Columbia, Canada
The following excerpt is from Leatherman v 0969708 BC Ltd., 2017 BCSC 793 (CanLII):
The respondents correctly point out that for many years the law has decreed that a lender’s right to take action on a demand loan arises the moment the agreement is reached; see for example Kong v. Saunders, 2014 BCCA 508 at paragraphs 18 to 20.
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