CASE SUMMARY 7.3 Bank Must Know or Ought to Have Known of Insanity: Canadian Imperial Bank of Commerce v. Milhomens 4 Milhomens executed a Visa application agreement in favour of CIBC and was issued a Visa card. He used the card and, eventually, had an outstanding balance owing of $18 104.29 plus interest at the rate of 18.5 percent. CIBC sued for non-payment of the debt. Milhomens claimed that "he was of unsound mind and incapable of appreciating