DEBTS AND MORTGAGES

Evening Post, Volume CXXX, Issue 78, 28 September 1940, Page 19

DEBTS AND MORTGAGES

The wide sweep of the recent Debtors Emergency Regulations, 1940, and the Mortgages Extension Emergency Regulations, 1940, is shown by a comprehensive text-book which Mr. J. P. Kavanagh, editor of the "New Zealand Law Journal," has had published through Butterworth and Co. under the title of "Debts and Mortgages Emergency Legislation, 1940." These regulations, while vbeing an outcome of war conditions, still affect all creditors desiring to enforce payment of debts, and give relief to mortgagors and guarantors of all types from the enforcement of legal remedies against them unde»< any mortgage, if default of debtor, mortgagor, or guarantor, "has been caused by any economic or financial conditions affecting trade or industry in New Zealand, whether or not they are attributable to any war in which his Majesty may be engaged." The author has explained each clause of these regulations in detail and in a manner which clarifies its particular effect. In addition, he has simplified an understanding of earlier difficult legislation by correlating clause with clause, and illustrating the meaning by decided cases in New Zealand, England, and Australia on clauses in similar legislation arising out of. the last war and the depression. As the Attoirney-General (the Hon. H. G. R. Mason) says in a foreword: "In these and other scources, Mr. Kavanagh appears with characteristic1 thoroughness to have selected and arranged his material in such manner as to be readily grasped." A perusal of its pages bears out this comment, s and indicates how valuable a guide the book will be to businessmen, accountants, and the commerieal world generally.