Key Facts

• In 2017, Novastar loaned $250,000 to the defendants, who signed a promissory note requiring 12% annual interest with monthly payments of $2,500.
• The note was payable on demand.
• The last interest payment was made in late 2019 or January 2020.
• Novastar filed its claim in July 2023, seeking $450,564.44 (including interest).

Defendants' Defenses

1. Statute of Limitations
   • Defendants argued the claim was barred under the Limitations Act, 2002 because more than two years had passed since the last payment.
   • The court found no clear, unequivocal demand for repayment was made before May 2023, meaning the limitation period had not expired.
2. Non Est Factum (Danielle’s Defense)
   • Danielle claimed she did not understand the note and signed it based on Michael’s instructions.
   • The court ruled non est factum was unavailable because she was careless in signing without reading or seeking legal advice.

Court’s Decision

• Summary judgment granted to Novastar.
• The defendants must pay $450,564.44 plus interest.
• The limitation period had not expired, and Danielle was bound by the agreement?.