C-25 - Code of Civil Procedure

Section 716 Disposition versions

1999-10-22

716. Conditional creditors are collocated according to their rank, but the amounts of their claims are payable to subsequent creditors whose claims are exigible, upon security being given, within the time fixed by the judge, for the return of the money upon fulfilment of the condition.

If there are no subsequent creditors, or if they do not give security, the amount is paid to the judgment debtor, on condition of giving the same security, or, if he fail to do so, to the conditional creditors themselves, upon their giving security to return the moneys in the event of the condition failing or becoming impossible, and paying interest to such persons as a judge may order.

If payment cannot so be made, the amount of the claim is placed in the hands of a depositary agreed upon by the parties, or, if they cannot so agree, appointed by a judge.

1965 (1st sess.), c. 80, a. 716; 1999, c. 40, s. 56.

1977-12-31

716. Conditional creditors are collocated according to their rank, but the amounts of their claims are payable to subsequent creditors whose claims are exigible, upon security being given, within the delay fixed by the judge, for the return of the money upon fulfilment of the condition.

If there are no subsequent creditors, or if they do not give security, the amount is paid to the judgment debtor, on condition of giving the same security, or, if he fail to do so, to the conditional creditors themselves, upon their giving security to return the moneys in the event of the condition failing or becoming impossible, and paying interest to such persons as a judge may order.

If payment cannot so be made, the amount of the claim is placed in the hands of a depositary agreed upon by the parties, or, if they cannot so agree, appointed by a judge.

1965 (1st sess.), c. 80, a. 716.