What consideration has been given to a bank for the giving of a bank's security note?
Saskatchewan, Canada
The following excerpt is from Union Bank of Canada v. Dodds, 1915 CanLII 284 (SK QB):
It seems to me, from the evidence, that the bank, in taking the account, practically agreed to give to the manager a reasonable time to realize on the security, and that the bank not having realized on the security, nor taken any further civil proceedings against the manager, there was a forbearance on the part of the bank, and that such a forbearance is a sufficient consideration for the giving of the note: Crears v. Hunter, 19 Q.B.D. 346. seems to bear out this proposition.
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