INTEREST ALLOWED.
ON OVERDUE ACCOUNTS. (BY TELEGRAPH —PRESS ASSOCIATION.! AUCKLAND, Oct. 1. Mr Hunt, S.M., has held that the custom of warehousemen charging interest on overdue accounts was reasonable, as persons dealing with warehousemen are entitled to cash discounts where accounts are settled within three months of the purchase of the goods. Ross and Gtendiuing sued Simon RaffoL, claiming £l7 17s interest on a current account. It was stated that defendant was advised that interest would be charged on overdue accounts, and had made a payment on account without objecting to the inclusion of interest until he made the payment in final settlement, when he repudiated liability for interest. Evidence was given as to the practice. Judgment was given for plaintiff for the amount claimed.
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https://paperspast.natlib.govt.nz/newspapers/HAWST19241002.2.45
Bibliographic details
Hawera Star, Volume XLVIII, 2 October 1924, Page 5
Word Count
125INTEREST ALLOWED. Hawera Star, Volume XLVIII, 2 October 1924, Page 5
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