THE MORATORIUM

Evening Post, Volume CVII, Issue 25, 30 January 1924, Page 8

THE MORATORIUM

RESULT OF EXPIRY

COMMERCIAL LAWYER'S OPINION.

(II TH,IfIBi**H._PR. M "AIIOCUIIO]-.)

DUNEDIN, This Day. An Ashburton telegram, published yesterday, predicted sensational happenings when the meratorium expired, suggesting that a number of people weuld be feund seeking tp escape their liability under cever pf the. Statute ef Limitatipns. These statements were referred to a leading commercial lawyer, who stated that the Meratorium Acts apply pnly to mortgages' and transactions of such a nature as purchase of land on terms. In such cases, the Moratprium Acts do npt cpntain provision for suspending the time limit "of the Statute ef Limitatipns, but the debt remains alse a security, se that althpugh a debtor is not personally liable the creditor has a remedy against the property. Regarding an ordinary debt there is nothing te prevent a creditor suing a soldier debter. He cannet issue a distress ' warrant withput' the AtterneyGeneral's consent, but having obtained judgment, that remains good for twenty years. Consequently, when the Mora-torium-is lifted a'creditor can pursue the usual remedies'. The same gentleman discounted any suggestion that' returned soldiers would seek cever under the statute. In any case, the Gevernment cpuld easily deal with the matter.