What is the limitation period for making a demand promissory note?
Alberta, Canada
The following excerpt is from Taylor v. Sarhan, 2013 ABQB 588 (CanLII):
The issue of the limitation period was, in my view, clearly dealt with by Macleod, J. in Gottlieb v. Tymkow, 2012 ABQB 262 at paragraph 11, where he said this: Whether or not the Defendant made payments on the loans is, in the circumstances, irrelevant. An injury under s. 3(1)(a) [of the Limitations Act] occurs in respect of a demand promissory note when a demand is made and not met.
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