What factors have been considered in determining the appropriateness of a security loan?
Saskatchewan, Canada
The following excerpt is from Teresa McCrea Investments Inc v Conley Management Ltd, 2012 SKQB 374 (CanLII):
These factors have been applied not only to the appropriateness of taking security, but in determining whether the cost of the loan is excessive, or the transaction unconscionable. Further, these factors are not an exclusive list. Any factor tending to demonstrate risk should be taken into account: see, for example, Ekstein v. Jones, supra at paras. 51 and 81, which also considered factors such as history of default, a failure to make payments in arrears and the existence of liens and judgments against the property that secured the loan.
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