Is it a Gift or a Loan?

Josef FinkelCivil Litigation, Commercial Litigation, Gift Law0 Comments

Have you loaned money to a friend or relative who now refuses to repay you and alleges that the loan was actually a gift? Or are you on the other side of this problem wherein your friend or relative gifted you a sum of money a while ago but is now demanding repayment? These issues come up most often in the private sphere where parties to a transaction do not habitually document all of their ventures. Nevertheless, verbal loan or gift agreements of this sort are still enforceable. Litigation involving a disagreement about whether a transaction was a loan or a gift is typically commenced by the transferor (i.e. the person who has transferred the funds) who claims that the transfer was a loan and not a gift. If you require assistance in either commencing such a claim in the Superior Court of Justice or defending against same, we have … Read More

Toronto Debt Recovery Lawyers | Enforcement of Judgment Lawyers

David Alderson, LL.B, LL.M (Commercial and Corporate), Lawyer, Qualified Arbitrator and MediatorCivil Litigation, Commercial, Commercial Contracts, Contract Disputes, Enforcement of Foreign Arbitral Awards, Enforcement of Foreign Judgments, Finance Litigation, Fraud Recovery, Gift Law, Lenders | Borrowers, Loan and Guarantee, Promissory Note Claims0 Comments

Domestic and, US and Other Foreign Debt, Judgments and Awards We are often consulted or retained in connection with recovery of large local debt or foreign debt, including casino debt, or to seek recognition  and enforcement in Ontario, Canada, of judgments, orders, or arbitration awards obtained in Ontario, other provinces of Canada, US and other foreign jurisdictions. We are sometimes retained to work with the assistance of lawyers practicing debt recovery in other jurisdictions, including, those located offshore. Claims on Loan Guarantee We can advise and represent those claiming payment on a guarantee, and those named as guarantor of a loan. Loan or Gift? | Loan or Investment? Disputes sometimes arise when either a payment advanced or transfer is alleged to be a loan rather than a gift, or alleged to a loan rather than an investment, or vice-versa. We have relevant experience in both domestic and cross-border litigation. Injunctions and Other … Read More

Broken Engagements- Who Keeps the Ring?

Kimberley Wilton, B.Sc. (Hons.), B.A., J.D.Division of Property, Family Law, Gift Law, Personal Property, Separation0 Comments

When an engagement ends, the question of who keeps the engagement ring is not as straight forward as one might assume. There is a long line of case law dating back centuries in which courts have struggled with this question. The traditional common law approach held that the party who ended the engagement loses claim to the ring. If the engagement ring is seen as conditional gift, the ring would go back to the donor. Section 33 of Ontario’s Marriage Act changed the common law approach slightly by stating the donee will keep the engagement ring if it’s an absolute gift, whereas the donor will get the ring back if it was a conditional gift. However, the Marriage Act also states a promise to marry cannot be enforced nor can a party bring a court action for a breach of a promise to marry. Removing the issue of fault in … Read More