Chris McIvor

Blog Bite: When is a promissory note classified as a security?

May 15, 2018

This article posted on our partner site Mondaq.com deals with the classification of promissory notes as securities in Ontario law. The court considered the U.S. Supreme Court test of “family resemblance” in distinguishing which promissory notes are securities or other instruments. This article sets out details of the four factors to be relied upon when determining whether a promissory note is a “security”.


Written by Chris.