What is the test for determining whether funds advanced as a loan or a gift?
British Columbia, Canada
The following excerpt is from Gill v. Jaspal, 2010 BCSC 698 (CanLII):
A determination of whether funds were advanced as a loan or a gift necessarily turns on the unique facts of each case. Factors for consideration when the advancement at issue occurs in a family context have, however, been identified in several case authorities. These factors were summarised by Wilson J. in Locke v. Locke, 2000 BCSC 1300. After citing the relevant authorities, he stated:
"The most advanced legal research software ever built."
The above passage should not be considered legal advice. Reliable answers to complex legal questions require comprehensive research memos. To learn more visit www.alexi.com.
Other Questions
What factors will be considered in determining whether funds advanced by parents to children were a presumed gift rather than a loan? (British Columbia, Canada)
What is the test for determining whether an advance made by a parent to a child is a gift or a loan? (British Columbia, Canada)
Is there any difference between whether the right of way is actually required for railway purposes and whether it is determinable at the sole will of the Indian Community Fund? (British Columbia, Canada)
What is the test for determining whether a loan advanced from the parents of a married person to be used for a family purpose should be presumed to have been a gift? (British Columbia, Canada)
What is the test for determining whether monies advanced to an adult child were a loan or a gift? (British Columbia, Canada)
What is the test for determining whether a gift is a loan or a gift? (British Columbia, Canada)
What is the test for determining whether an advance is a loan or a gift? (British Columbia, Canada)
What is the legal test for determining whether there has been anordinate delay in determining whether a claim has been successful? (British Columbia, Canada)
What is the test for determining whether a loan is a loan or a gift? (British Columbia, Canada)
What is the test for determining whether a person intended to transfer a child as a gift? (British Columbia, Canada)
