Textbook Notes (362,776)
Canada (158,052)
Commerce (379)
COMM 393 (60)

Case Brief - Bank of Nova Scotia V. Rock Corp of Canada – NEGOTIABLE INSTRUMENTS.docx

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University of British Columbia
COMM 393
Patricia Mallia

Bank of Nova Scotia V Rock Corp of CanadaNEGOTIABLE INSTRUMENTSFactsThe defendant The Rock Corp of Canada drew a cheque on RBC payable to the order of Bruno TessoniTessoni took the cheque to BNS and cashed it without endorsing it in any wayBy the time the cheque made its way to BNS a stop order had been placed on the cheque and it was dishonouredBNS claims that it was a holder in due course due to the provisions of the Bill of Exchange Act s 1653 and therefore is due the face value of the cheque from the drawerWhether or not the bank is considered a holder in due course is the sole issue brought before the court Issues1 Is the Bank of Nova Scotia a holder in due course as specified in the ActDecisions1 The Bank of Nova Scotia is not a holder in due courseReasons1 The relevant section of the Act s 1635 states that where a cheque is delivered to a bank for deposit to the credit of a person and the bank credits him with the amount of the cheque the bank acquires all the rights and powers of a hol
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