Quote Originally Posted by Canadian solution View Post
Walter I would be interested in hearing how your testing went on the "consumer purchase" .I have read thru the bills and exchange act and found it. I have wondered about the application. Menard and Croft are dancing around how it worked but I could never find success other than heresy

I have often wondered in Canada if the solution is all in the endorsement. Taking a public note private and closing the loop for accounting purposes?

Thanks in advance
I don't want to high-jack this thread but since its just an introduction I guess its not crossing any boundaries.
What caught my eye with the BoE act was when the introduction of "consumer purchase" was introduced into the act.
I tried to find the Acts or the years when the change happened.(no luck yet)
The old BoE act never mentioned "consumer purchase", only more modern ones and my guess is the change happened after 1933 when the gold was removed from the public.
Pre 33 all PN's were settled in gold or silver.
So once it was removed then what do we have to settle a PN with?
Nothing at all.
As stated in the BoE act the bills (remittance) are valid until NOTICE of defective title is given.
Once given they have to correct the mistake otherwise the bill is void.

Land and or any interest in land does not apply.
I was testing it with land. (Bad way to start the test)
So one bill for property transfer tax stopped coming but the property tax itself kept coming.
I found out that once the government retires from its attacks for money from you they send it to their trusted debt collectors. Being the CRA.
Since I don't do any business with them they are out of luck for any collections.
I would imagine they will wait till probate then make the claim.
Just have to make sure there is nothing in the name when probate comes because it is only then they won't get any defensive actions against them.

My thinking here is that "consumer purchase" is related to a "demand for lawful money".
The defective bills (by notice of defective title) get sent to the CRA to collect so there is an attachment somewhere happening.