A MONEY-LENDER'S CHARGES

Otago Daily Times, Issue 17324, 25 May 1918, Page 8

A MONEY-LENDER'S CHARGES

IMPORTANT MAGISTERIAL DECISION. NOTICE OF APPEAL GIVEN. Okitbd Press Associatiox.) ~ GISBORNE, May 24. . .important judgment was delivered by .Biryßarton, S.M., to-day in the case James Perry, of Gisborno (Mr Burnard) v. Laiarus Wolfe Balkind, of Christchurch, money-lander (Mr Coleman). Plaintiff borrowed the sum of £10 from defendant, and had ' repaid on account of the loan £14 6s and ' according to« defendant's do-, manda, was still further liable for a further . apih of about £4. Plaintiff claimed a refund w;.the interest, which, he claimed, was «±6efesive, and also that the security given tpdefendant bo sot aiside. After reviewing the law and circumstances of the case, His Worship said he had come to the con- . erosion that 30 per cent, was a reasonable , (Iwnreasonable) rate of interest, and found that .-defendant was liable to refund plaintiff £3 9s Bd, for which amount itidgment was entered, with costs. His Worship also ordered that the security given by plaintiff ;ttt'defendant be set aside. On the application of defendant's counsel, who said an important principle was involved, and that / other , cases were likely to follow on his Worship's judgment; leave to appeal was .syanted.