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Full-Text Articles in Law
Subordination Agreements, Bruce Macdougall
Subordination Agreements, Bruce Macdougall
Osgoode Hall Law Journal
Subordination agreements are not novel concepts in Canadian law, but the PPSAs ensure their more widespread use. Subordination agreements usefully provide flexibility to creditors and consequently permit enhanced access to credit for debtors. The adaptability of the subordination agreement presents difficult legal problems, the most important of which relates to characterization of their legal nature. Other problems include the resolution of multiple subordinations and the question of the enforceability of subordination agreements in bankruptcy. This paper explores those issues and cautions against undue restrictions being placed on either the availability or the characterization of subordination agreements.
Negotiable Instruments And Banking: Review Of Some Recent Canadian Case Law, Benjamin Geva
Negotiable Instruments And Banking: Review Of Some Recent Canadian Case Law, Benjamin Geva
Articles & Book Chapters
This review presents a survey of some significant cases decided recently on a variety of topics in the area of negotiable instruments and banking. Although none of the reviewed cases may be truly earth-shattering, they all are important because they freshen, clarify or restate the law. Specific topics covered are the reach of provincial jurisdiction to bills of exchange and promissory notes, forgery and verification agreement, requisites for negotiability, the defence of non-delivery of a bill or note, priority instruments in the insolvency of a bank, holding in due course requirements, notice of dishonour rules, and preauthorized automated debit payments.