Can a party who is not a holder of a credit card be entitled to claim the full amount of the credit?
British Columbia, Canada
The following excerpt is from Bank of Montreal v. Banks Marine Industries Ltd., 1981 CanLII 687 (BC SC):
It was submitted by counsel that equities might arise between the parties whereby a person in the position of a holder might not be entitled to the full amount of the bill, as here, for example, where part payment has been made. However, it seems to me that even if such equities might preclude a party from becoming a holder in due course, once he finds himself in that position (as the bank is in this case under s. 165(3)) then by virtue of the Act (s. 74) and by authority (Cosgrave v. Boyle, supra) he may sue for the full amount.
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