What is the test for forbearance?
Ontario, Canada
The following excerpt is from Citadel General Assurance Co. v. Iaboni, 2003 CanLII 28506 (ON SC):
Malaviya v. Lankin was a case of forbearance. The vendors of a building took back a mortgage and mortgagors transferred the equity of redemption to third parties who continued to pay the mortgage but subsequently defaulted. On assurances from the third parties that they were trying to refinance, the mortgagees allowed the debt to continue to run and payments were continued. There was no binding agreement to extend or renew and the litigation centred on an argument that there had been novation.
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