COMM 393 Chapter Notes -Financial Institution
Document Summary
2203850 nova scotia ltd. v. sarkar negotiable instruments. The appellant effectively cashed a cheque post-dated by the respondent for a client of the money mart (for services rendered. ) Prior to cashing, the respondent placed a stop payment for the amount at its financial institution, thereby dishonouring the cheque. In trial court, the adjudicator ruled that, in reference to the bank of. Commerce v. burman et al, the appellant was not a holder in due course since the instrument was post-dated at the time of cashing. The appellant brings this action to establish that it is in fact a holder in due course, and is subject to the appropriate equities provided by this role. Decisions: the appellant is found to be a holder in due course, the appellant shall not be countermanded and shall receive payment for the honouring of the instrument.
