MAGISTRATE’S COURT

Southland Times, Issue 24162, 26 June 1940, Page 2

MAGISTRATE’S COURT

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(Before Mr R. C. Abernethy, S.M.) L. R. Marchant, of Christchurch (Mr I. A. Arthur) proceeded against George Chin Poy, of Invercargill (Mr Gordon J. Reed), for recovery of £57/4/11, money lent on December 18, 1931, together with interest. The plaintiff’s evidence showed that he had lent the defendant £5O for 12 months, from December 18, 1931, to December 18, 1932, and that the defendant had agreed to repay the amount in that time with interest at 15 per cent., an amount of £7/10/-. Mr Reed contended that the rate of interest for the transaction was harsh and unconscionable, and that as the agreement between the parties did not mention any interest after December 18, 1932, the plaintiff could not claim interest at 15 per cent, after that date, and at best he was only entitled to the maximum interest allowed by the Judicature Act, of 8 per cent. He stated that of the original amount of £5O, £44/13/6 had been repaid and that £57/4/11 was still being claimed. After hearing legal argument the Magistrate reserved his decision. CHILDREN’S COURT In the Children’s Court, more than 20 young offenders were charged with various misdemeanours, including theft and mischief. One was placed under the care of the Child Welfare Officer and the others were discharged.