MONEY-LENDING CASE

Dominion, Volume 11, Issue 303, 11 September 1918, Page 5

MONEY-LENDING CASE

UNPAID INTEREST AND PRINCIPAL. In tho Supremo Court in Chambers yesterday morning, His Honour Mr. Justice Hosking delivered reserved judgment in the case in which Lazarus Wolfe Balldjid, _ registered' moneylender, claimed the sum of £29 from Arthur Percy Ralph, clerk, of Kilbirnie. The sum claimed was for a loan of £25, with £14 interest, of which total defendant liad paid £10, leaving a balance of £2!i. Defendant had prayed for relief under Sub-section • 1 of Section 3 of the Money-lenders Act. ' His Honour dealt with the evidence at some length, and held that the defendant had not suffered harsh and unconscionable treatment, and the only question, therefore, was as to whether tho rate of interest charged was excessive. Taking all the circumstances into consideration, His Honour was inclined to think that the sum of £M was excessive, and he would allow £10, and gave judgment for £25. In view of an arrangement between the parties, no order for costs was made in the meantime.' ' ■At the hearing Sir John Findlay, K.C., with' him. Mr. J. C. Morrison, appeared for the plaintiff, and Mr. P. Levi ,for tho defendant.