The Queen v. Derbecker, 84 DTC 6549, [1984] CTC 606 (FCA) -- summary under Subparagraph 40(1)(a)(iii)

In S.40(1)(a)(iii)(A), "the words 'due to him' look only to the taxpayer's entitlement to enforce payment and not to whether or not he has actually done so." Thus, where part of the proceeds of disposition of shares was represented by a promissory note expressed to be payable "on demand after December 31, 1976", no reserve was available to the taxpayer after 1976 notwithstanding that no demand for payment was made by him.