A MONEY-LENDING CASE.

Taranaki Daily News, 25 May 1918, Page 5

A MONEY-LENDING CASE.

30 PER CENT. INTEREST REASONABLE. By Telegraph.—Press Association. Gisbome Last Night. An important judgment was delivered by Magistrate Barton to-day in the case of James Perry, of Gisborno (Mr Burxiard) v. Lazarus AVolfe Balkind, of Ohristchuvch, moneylender (Mr- Coleman). Plaintiff borrowed the sum of £ lfl from dfcfcndant, and had repaid on account of the loan and interest £l4 6s lid, and. according to defendant's demands, was still liable for a further sum of about £4. Plaintiff claimed a refund of interest, which lie claimed was' excessive, and also that the security given to defendant be set aside. After reviewing the law and circumstances of the eaac, Ms Worship said lie had come to the conclusion that 30 per cent, was a reasonable rate of interest, and found that defendant wrs liable to refund plaintiff £3 !)s Bd, for which amount: judgment was entered, with eosti B* • Worship also ordered that the security given by plaintiff to defendant bo set aside. On the application of defendant's counsel, who said an important principle was involved, and other cases were likely to follow on his Worship's judgWnerit, leave to appeal was granted.