INTEREST ON ACCOUNTS.

New Zealand Herald, Volume LXIV, Issue 19744, 17 September 1927, Page 14

INTEREST ON ACCOUNTS.

CLAIM BY STOREKEEPERS.

CUSTOMER ORDERED TO PAY

[»Y IELEaftAPH.—OWN eoßtlEsl'ONDExiv] OPOTIKI, Friday. A case of interest to storekeepers was brought in tho Magistrate's Court by Skinner and Lane, storekeepers, of Omaio, against Whare Gage for £22 Os 6d, interest on a store debt. Tho debt of £llß was not disputed. Mr. N. V. Hodgson appeared for plaintiffs and Mr, E. A. Bunkall for defendant. Evidence for plaintiffs showed that when tho account stood at £6O in October, 1923, defendant was notified by a written memorandum and later by a memorandum printed on the docket and monthly statements that interest would be charged at the rate of 1 per cent, per month on the previous month's balance. Defendant did not object., but continued to obtain credit and made nayment on accounts some months after plaintiffs commenced to charge interest. The defence was a denial that proper notice had been given of intention to charge interest and also that there was any liability for interest. It was contended that 6 per cent, would be adequate if defendant was liable for interest. The magistrate held that ample notice had been given. He gave judgment for plaintiffs for interest at 8 per cent, per annum, £ls 13s 6d, with costs £2 17s.