THE MORATORIUM.
EFFECT OP NEW ACT. A few compainte are being made regarding the effect of ibhe Mortgages Extension Act passed rtlhis session. It in (being said that ..under .the Act mortgagees are not given good enough security, and that people are now (unwilling to lend money on mortgage. The Biil*. however, was nolt framed to facilitate borrowing, but to protect from disaster those who have already borrowed, an! who have mortgages falling due. lie important point ini the Act is thai extending mortgages, and it is safe to say that as the Act will remain in fo-'e only while the war lasts it will not extend the currency of -mortgages given now, which would have a currency of say three years or more. A menrtgagv may be sued for interest under the 4-t and if the Court should hold tfcart for non-payme»t of interest or for other reasons the mortgagee ought to exercise his extreme rights under the mi.rtgafie, he may do so. Ttie AttorneyUeneral said, when speaking on tip bill in the House, that tie considered tliia protection adequate.—Dominion.
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Taranaki Daily News, Volume LVI, Issue 78, 21 August 1914, Page 4
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181THE MORATORIUM. Taranaki Daily News, Volume LVI, Issue 78, 21 August 1914, Page 4
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