What is a debt and what is the effect of a debt?
Ontario, Canada
The following excerpt is from Aquasure Technologies Inc. (Re), 2008 CanLII 32310 (ON SC):
A debt is a sum payable in respect of a liquidated money demand, recoverable by action: Diewold v. Diewold, 1940 CanLII 52 (SCC), [1941] S.C.R. 35.
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