STATUTE OF LIMITATIONS.
AX INTERESTING JUDGMENT. CHRISTCHURCH, August 6. An interesting judgment was given today by Mr Justice Denniston in the Supreme Court in Gilkison v. Tothill, a claim for money lent. The defendant admitted the loan, but relied on the Statute of Limitations. 'The loan was secured on a life insurance policy, and the plaintiff contended that the payment of premiums on the policy took the debt out of the Statute of Limitations. His Honor held that to take the debt out of the statute must amount to an acknowledgment of debt, from which must be implied in fact, and not merely in law, a promise to pay the residue. The payment of premiums was not made for the benefit of the creditor, though it gave value to the security. In the absence of an authority his Honor held that they did not prevent the statute from running. Judgment would he for defendant.
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Otago Witness, Issue 3100, 13 August 1913, Page 57
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154STATUTE OF LIMITATIONS. Otago Witness, Issue 3100, 13 August 1913, Page 57
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