Gollner v. Laurentide Financial Corporation Ltd.

Gollner v. Laurentide Financial Corporation Ltd.

The guarantee language 'any and all notes... now held or which may hereafter be purchased or discounted' is sufficiently broad to include the six promissory notes, and the concurrent findings that the guarantor knew the guarantee covered new and used wholesale financing establishes that those notes fell within the guarantee's scope.

Citation
[1967] SCR 78
Parties
Defendant/appellant: Jack Gollner; Plaintiff/respondent: Laurentide Financial Corporation Ltd.
Court
Supreme Court of Canada
Jurisdiction
Canada
Judgment Date
25 November 1966
Procedural Posture
Civil Appeal / On Appeal to the Supreme Court of Canada From the Court of Appeal for British Columbia
Outcome
Appeal dismissed.
Legal Topics
Promissory Notes, Guarantee Interpretation, Guarantor Knowledge, Wholesale Financing, Contract Interpretation
Source Language
English
Guarantee and Suretyship Promissory Notes Guarantee Interpretation Guarantor Knowledge Wholesale Financing Contract Interpretation

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Parties

Jack Gollner

Defendant/appellant

Laurentide Financial Corporation Ltd.

Plaintiff/respondent

Procedural Posture

Civil Appeal / On Appeal to the Supreme Court of Canada From the Court of Appeal for British Columbia

Legal Issues

  1. 1 Whether the promissory notes were covered by the guarantee
  2. 2 Whether the guarantor knew the guarantee's intended scope
  3. 3 Whether the words 'purchased' or 'discounted' applied to the transactions in question

Ratio Decidendi

The guarantee language 'any and all notes... now held or which may hereafter be purchased or discounted' is sufficiently broad to include the six promissory notes, and the concurrent findings that the guarantor knew the guarantee covered new and used wholesale financing establishes that those notes fell within the guarantee's scope.

Court Disposition

Appeal dismissed.

Orders

  • Appeal dismissed with costs.
  • Judgment against the appellant for $19,844.99 plus costs affirmed.