Blog Bite: Are promissory notes considered securities?

This article Canada: Welcome to the Family: Promissory notes under the Securities Act discusses an Ontario Court of Justice decision which dealt with the definition and interpretation of “security” under the Securities Act, R.S.O. 1990, c. S.5. The court considered the U.S. Supreme Court test of “family resemblance” in distinguishing which promissory notes are securities or other instruments.

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Written by Chris.