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1922 Supreme(Mad) 223

SPENCER, DEVADOSS
C. S. Vadamalai Pillai – Appellant
Versus
P. Subramania Chettiar – Respondent


JUDGMENT

Spencer, J.

1. This suit was brought on the strength of an equitable mortgage made by 1st defendant in favour of the plaintiff. Defendants Nos. 2 to 6 axe the sons of first defendant. Defendants Nos. 7 and 8 are puisne mortgagees. Defendants Nos. 1, 2 and 5 are now dead and defendants Nos. 3, 4 and 6 prefer this appeal.

2. The evidence on record shows that the plaintiff was lending money to the 1st defendant in a series, of transactions commencing from the 24th of August 1907. Every time that accounts were settled between he parties a promissory note was executed. On the 13th of October 1913 the 1st defendant deposited title-deeds of landed property to secure a debt of Sections 10,900 carrying interest at 12 per cent due on the 12th October 1913. On the 1st of October 1912 there was a consolidation of intermediate loans and on the 4th October 1913 there was a fresh consolidation for which a promissory-note, Exhibit C, for Rs. 13,900 was executed. This was followed, on the 7th of October 1913 by a letter, Exhibit E, giving particulars of the title-deeds deposited for the debt of Rs. 13,900 Exhibits C(1) and C(2) are promissory-notes for the interest that subsequently accrued.







































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