Judgement

Appeal from a judgment and decree of the High Court (November 20, 1916) affirming a decree of Macleod J. (March 26, 1916).

The suit was instituted by the respondent bank against the appellants in the High Court to recover 36,427 Rs. as the balance due upon an account which the appellants had been allowed to overdraw upon the security of cotton and under a written agreement. The appellants counterclaimed (1.) for an account, on the ground that they had been charged compound interest with monthly rests, which they alleged was not in accordance with the agreement; (2.) for damages for the dishonour of two cheques for 15,000 Rs., each drawn upon the respondents upon August 1, 1916, which they contended that the respondents were bound to honour under the terms of the agreement.

Law. Rep. 47 Ind. App. 17 ( 1919- 1920) Haridas Ranchordas V. Mercantile Bank of India, Limited

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The facts material to this report appear from the judgment of their Lordships.

The trial Judge, Macleod J., made a decree for the amount claimed by the respondents, and dismissed the counterclaim for damages. With reference to the amount charged for interest the learned judge said "ft was contended that t