CASE DISMISSED

Hokitika Guardian, 20 September 1933, Page 5

CASE DISMISSED

POWER BOARD v. A.M.P. SOCIETY

(Australian Press Association),

SYDNEY, September 19,

The Court has dismissed with costs the suit -of the Wanganui-R-angitikei Power Bo:-rd against the A-M.T-Society. Justice Sir John Harvey s judgment said: “It is clear that the parties intended the contract to bo a (New Zealand contract from first to last, and that it was never intended that the obligation to pay interest at i,Sydney -was to -be subject to any law which 'the -State of New South Wales might mike.”

THE JUDGE'S FINDING. (Received tin's day fit 9.50 rt.m.l SYDNEY, September 20. Justice Siii‘ John Haney held that, if a resident of New South Wales borrowed money in England contracting to pay interest for it there, and returned to' New South Wales before his creditor ooud sue him in England, it obviously could not he set up, if tbe creditor followed him to New Sou h Wales, that he was discharged from obligation to .pay full interest, by reason of the existence of a New South Wales interest reduction act. It was too dear for words that these loans and security were to be interpreted and enforced according to New Zealand law. The fact that debentures were made .payable in Sydney was a mere accident, and whether that was an obligation which was an inherent part of the contract and could not be varied except by consent of both parties, seemed unnecessary to consider.