CONTRACTS.

Ashburton Guardian, Volume 53, Issue 15, 28 October 1932, Page 6

CONTRACTS.

INTERESTS OF COUNTRY FIRST DEFENCE OF COMMISSION. (Per Press Association). WELLINGTON, October 27. Replying to the Highways Fund deputation. Mr Forbes said that in the course of criticism of the Government the .terms "robbery and embezzlement" had been used. Also, it had been said that the Government was breaking contracts. The interests of the country came first, said Mr Forbes, and if it was necessary to break contracts they had to be broken. Mr Forbes also said that the Commission had been attacked from pillar to post. The Commission had a difficult duty in saying -candidly what it thought of the way that the Government was carrying on the business of the country. The long-suffering taxpayer had a right to know that money was being spent to the best possible advantage. He thought the Commission had done its work well in a candid way. It had been subjected to much abuse and criticism, but he thought it had done service to the people.

MORTGAGE LEGISLATION. DISRESPECT FOR CONTRACTS AUCKLAND, October 27. Criticism of mortgage legislation was made by Mr W. R. Wilson (actingchairman) at the annual meeting of the South British Insurance Company. Mr Wilson said it had not only stifled the spirit which had been bringing about voluntary adjustments of mortgages, but had led to a demoralising disrespect for contractual obligations. "It was scarcely an exaggeration," said Mr Wilson, "when a leading legal authority stated recently that a generation was growing up ' which * understands a mortgage to be a document signed by the mortgagor containing an implied covenant by the mortgagee agreeing to a moratorium."