INTERESTING LAWSUIT.

Auckland Star, Volume XX, Issue 101, 30 April 1889, Page 2

INTERESTING LAWSUIT.

(BY TKM2OKAPH. —PRESS ASSOCIATION.)

Blenheim, thin day. An interesting and important case the Bank of New Zealand v. Thomas Horton is now proceeding. Tiie claim is for £9,248, advances and overdraft, extending over several years. Defendant pleaded a general denial. Mr Conolly and Mr John Conoily are for the plaintiff, and Mr Gully and IvJr Rogers for toe defendant.^ Defendant consented to judgment for the amount and costs in this case being given against him on the condition of execution being stayed until the other action, Horton v. the Bank, had been heard. This action was then called on and turned out to be of a singular and interesting character. January Ist, 1387, the bank closed the general account, and a No. 2 account, was. opened for further advances. On this account Horton deposited deeds of two pieces of town land. Horton says he agreed distinctly that such deeds wore deposited as security for advances on No. 2 account only. Ihe bank allege it was agreed that they were to be .security for Horton's general indebtedness on the old account. Horton also alleges an alteration of date on the agreement to which he had not consented. Gully rnado a long and lucid opening. A point of great importance was raised by Mr Gully to-day. He argued the Bank had no right by the terms of the articles of essociation to take security for future indebtedness. The Judge reserved consideration of the point, which excited considerable interest in Court.