POUND STERLING

Wanganui Chronicle, Volume 79, Issue 268, 14 November 1935, Page 9

POUND STERLING

BRITISH CURRENCY IMPORTANT JUDGMENT. [ Per Press Association. 7 CHRISTCHURCH, Nov. 13. In his reserved judgment to-day Mr. Justice Northcroft said that pounds sterling meant British, not New Zealand, currency. He was asked to decide a claim by Charles Martie de Bueger, a tailor, against J. Ballantyne and Co., Ltd., drapers, where plaintiff maintained that under an agreement made in England to pay him £7OO a year in sterling it meant in English money. The Judge also said that plaintiff was entitled to recover interest on the deficiencies in payments made by the defendant over three years. The Judge said that the word sterling in the agreement was not used in a meaningless sense, but when linked with the word pounds had the definite meaning recently emphasised by litigation in the English Courts. He did not regard sterling a s meaning legal tender, and considered that the parties had used the words pounds sterling and meant pounds in English currency, and thus specified the measure of defendant’s obligation. He was not prepared to say that the word sterling got into the agreement by an oversight but in. any case the Court could not ignore its presence.