Peh Swee Chin J:

[1] I have earlier dismissed the appeals of the 1st defendant, (the Company), and the 3rd defendant, (the Guarantor), respectively from a decision of the learned Registrar granting leave to enter final judgment against them in favour of the plaintiff, (the Bank), on an O 14 application for summary judgment. I now give my reasons.

[2] The Bank has earlier sued the Company for RM6,460,603.74 with interest and costs due on a banking account in respect of which the Bank had granted an overdraft facility. Although this action is not a foreclosure summons, it will be pertinent to point out that the money so lent and so owing was also secured by a charge over certain land of the Company, in addition to its being secured also by a letter of guarantee signed by the Guarantor in favour of the Bank and concerned herein. In this action, therefore the Bank has sued the Company on a covenant to pay money so lent and so owing, and the Guarantor on her guarantee to pay the same.

[3] Before me on appeal, learned Counsel for the Company submitted implicitly on the basis, that the said charge executed by the Company was an English mortgage at common law or a transaction exactly