Young et al. v. Bank of Montreal et al.

Young et al. v. Bank of Montreal et al.

The appeal was dismissed because the courts below, on concurrent findings of fact, concluded that the bank manager did not represent that the life insurance policy was then held for the appellants' benefit and therefore the bank was not bound by such a representation.

Citation
[1970] SCR 328
Parties
Defendant/appellant: Sidney Young; Defendant/appellant: Jonas Zalkowitz; Defendant/appellant: Jacob Zalkowitz; Plaintiff/respondent: Bank of Montreal; Defendant by Counterclaim/respondent: Archibald Robert Burnie
Court
Supreme Court of Canada
Jurisdiction
Canada
Judgment Date
17 December 1969
Procedural Posture
Civil Appeal (banking, Promissory Notes, Misrepresentation) / Supreme Court of Canada Appeal From the Court of Appeal for British Columbia
Outcome
Appeal dismissed with costs; judgment of the Court of Appeal affirmed.
Legal Topics
Promissory Notes, Misrepresentation, Agency/principal Liability, Security by Assignment of Insurance Policy
Source Language
English
Banking Contract Commercial Law Evidence Promissory Notes Misrepresentation Agency/principal Liability Security by Assignment of Insurance Policy

Case Brief

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Parties

Sidney Young

Defendant/appellant

Jonas Zalkowitz

Defendant/appellant

Jacob Zalkowitz

Defendant/appellant

Bank of Montreal

Plaintiff/respondent

Archibald Robert Burnie

Defendant by Counterclaim/respondent

Procedural Posture

Civil Appeal (banking, Promissory Notes, Misrepresentation) / Supreme Court of Canada Appeal From the Court of Appeal for British Columbia

Legal Issues

  1. 1 Whether the bank manager represented that an assignment of a life insurance policy was held as security for loans made by the appellants
  2. 2 Whether the bank is bound by the manager's representation under agency principles
  3. 3 Whether appellant Jonas Zalkowitz had knowledge of or could rely on any representation

Ratio Decidendi

The appeal was dismissed because the courts below, on concurrent findings of fact, concluded that the bank manager did not represent that the life insurance policy was then held for the appellants' benefit and therefore the bank was not bound by such a representation.

Court Disposition

Appeal dismissed with costs; judgment of the Court of Appeal affirmed.

Orders

  • Appeal dismissed with costs
  • Judgment of Court of Appeal for British Columbia affirmed