What is the test for the application of the Parole Rule in the context of a promissory note?
British Columbia, Canada
The following excerpt is from 0722053 B.C. Ltd. v. Malloch Logging Limited, 2013 BCSC 1948 (CanLII):
In support of the application of the rule to the instant case, counsel for the plaintiff referred me to the decision of our court in Powers v. Mesaros, 2007 BCSC 694, in which Mr. Justice Rogers considered an argument that a plaintiff holder of a promissory note should not be allowed to realize on the note because of the assurance given to the defendants that the plaintiff would not make demand on the note. Mr. Justice Rogers stated, at para.18, that the defendant’s assertion concerning the assurance is the “purest parole evidence” which stands directly contrary to the terms of the promissory note:
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