JUDGMENT

VC George J:

[On encl. (14)]

The plaintiffs are a British Company and sue the 1st defendant for amounts outstanding on two bills of exchange "drawn" according to para. 4 of the statement of claim, "by the plaintiffs upon the 1st defendants in England, payable to the plaintiffs on 1st presentation on 6 April 1987 and 23 November 1987 respectively." It is contended that the 1st defendant is the acceptor of the two bills. The other defendants are sued as guarantors of the 1st defendant.

Particulars are given in the statement of claim as to how the amounts said to be outstanding are arrived at. The particulars show that there had been part payment of principal in respect of each of the bills and that the plaintiffs are claiming interest calculated on the balance of the principal sum outstanding from time to time in respect of one bill at 14% per annum and in respect of the other at 15.2625% per annum.

Then comes para. 5 of the statement of claim which reads as follows:

5. The said bills of exchange have been duly dishonoured and protested for non-payment.

The plaintiff had successfully taken out an O. 14 application against all the defendants. The matter before me is the appea