LITIGATION OVER DEBT.

New Zealand Herald, Volume LIX, Issue 18278, 20 December 1922, Page 11

LITIGATION OVER DEBT.

TIMBER AS PART PAYMENT.

CARRYING SCOW STRANDED. Tho stranding of the scow Haere at Ahipara, in June last, was mentioned in an action which was heard before Mr. Justice Eeed at the Supreme Court yesterday. The case was one in which Bert May, of Surf dale, Waiheke (Dr. Fitchett and Mr. Greville) sought! to recover from Cleon Mervyn Newman, of Hokianga (Mr. Richmond and Mr. Butler), tho sum of £15, alleged to be due as interest. The facts, as stated in evidence, were that the plaintiff sold a piece of land at Hokianga to the defendant. Part of the purchase money was secured by mortgage, which provided that the defendant, in lieu of paying principal and interest in cash, could pay in timber. Timber to the value of £700 was shipped by the defendant to the plaintiff by the scow Haere, at Hokianga, on June 23, and the vessel ran ashore on June 25, the timber thus failing, to reach its destination. Following the loss of the timber the plaintiff sued for interest outstanding. It was claimed that the timber was to be delivered at Suxfdale. The defence ws>s that the capital sum had been paid by the shipping of the timber, and there was no interest due. It was alleged that the timber was to be delivered f.o.b. Hokianga, and that plaintiff had sufficient information on which he could have effected insurance prior to the stranding. The case was adjourned until 10 a.m. to-day.