D-5 - Deposit Act

Section 17 Disposition versions

1977-12-31

17. Any person who desires to pay any sum of money to a creditor who refuses to receive the same or who is absent from the place where the debt is payable, may deposit such sum in the office of the Minister of Finance, together with a writing showing the nature of the debt, the title or contract under which it was created, and the persons to whom he desires the money to be paid.

The tender established by such deposit shall, for the future, relieve the debtor from the payment of interest on such sum of money, provided his creditor has wrongfully refused to accept such tender; and the moneys deposited for a creditor who is absent from the place where the debt is payable shall also cease to bear interest against the debtor if the amount deposited be sufficient.

R. S. 1964, c. 64, s. 66.