Judgement

Appeal from a judgment and decree of the Chief Court of Lower Burma (June 11, 1917) reversing a decree of that Court in its original civil jurisdiction.

The suit was brought by the appellants, namely, David Rajh, executor of the will of Gnanamathu Stephen, and Sen, official receiver and representative of the estate of Edward Stephen, an insolvent, against the respondent bank, for a declaration that the plaintiffs were entitled to a sum of Rs. 82,437 with interest and for an account. The circumstances in which the claim was made, and the nature of the defence pleaded appear from the judgment of their Lordships.

The trial judge, Young J., made a decree in favour of the appellants. He held that the agreement for the deposit of security was not a continuing agreement within s. 129 of the Indian Contract Act, so as to be revoked by the death of Gnanamathu Stephen, but he decided against the respondent bank upon the ground that they could have sued the makers of the promissory notes deposited by the insolvent. He was also of opinion that clause 8 of the agreement of 1903 applied to accounts between the bank and the khazanchee, and not to accounts between the bank and the insolv