1931 (7) TMI 19

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..... ngal Bank rate, subject to an enhancement of 2 per cent per mensem on resolution being passed: by the plaintiffs to that effect and with a minimum of 7 per cent per annum; and second, on a resolution passed by the plaintiffs in December 1920, enhancing the-said rate of interest to that effect to take-effect from 1st January 1921. The plaintiffs had a further claim for realizing their dues upon the basis of an alleged collateral security by deposit of title-deeds, but that claim has been overruled by the Court below and need not be referred to any further. 3. The plaintiffs' claim, which has been allowed by the Court below, was resisted by the defendant upon three grounds, viz., first, that the claim was time barred; second, that ther .....

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..... the witness, by reason of his office in the bank, must have dealt with hundreds of customers of the type of the defendant, given nearly five years after the incident, must necessarily be unconvincing in the extreme. It is very likely that the witness spoke to this agreement because he honestly thought that there must have been such an agreement rather than that he actually remembered the particulars of this incident. There is evidence that overdrafts have been allowed to other customers on these terms and the witness may have deposed to it because he thought that, unless there was such an agreement with the defendant, do overdraft would have been allowed to him. The evidence of P. W. 7, who was manager of the plaintiff bank from 1917 to 192 .....

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..... orded by the acknowledgment. Ex. 7, dated 25th August 1924, which shows that the de-fondant admitted . his liability as calculated on the basis of the agreement alleged on behalf of the plaintiffs. The rate of interest is not mentioned in this admission, but the amount that he has admitted as due from him can only be arrived at on such a basis. Moreover, it would appear from the pass books, which the defendant from time to time produced before the plaintiff bank to get his accounts entered therein, that interest on overdraft advances was charged monthly at the end of every month and the total thus made up was carried on to the next month and treated as the total advance on which interest was thenceforward to run. The abstract question wheth .....

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