What is the difference between a loan agreement and a subsequent loan obligation?
Ontario, Canada
The following excerpt is from Royal Bank of Canada v. Adecon Transport Inc., 2004 CanLII 66267 (ON SC):
I find that the subsequent loan obligations in this instance are not material variations to the principal contract and in fact, were contemplated by the parties. Accordingly, I distinguish E-2 Fiberglass Products v. Debruyn, [1994] B.C.J. No. 2181 (B.C.C.A.).
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