What is the limitation on a demand loan under the Limitation Act?
British Columbia, Canada
The following excerpt is from Lesko v. Solhjell, 2019 BCCRT 941 (CanLII):
19. Section 14 of the Limitation Act says that a claim for a demand obligation is discovered on the first day that there is a failure to perform the obligation after a demand for the performance has been made. This means that the limitation on a demand loan under the Limitation Act begins to run only after a demand for payment has been made (see: Gavriel v. Gavriel, 2017 BCSC 1653).
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