https://www.taxtmi.com/caselaws?id=197140 The note explains that a mortgage amount recited as having been applied to discharge the borrower's mother's debt was upheld, because the borrower did not effectively dispute the arrangement and the later accounts removed the basis of objection. It also states that, under the Usurious Loans Act, a court may vary compound interest where the bargain is substantially unfair, taking account of risk, security and the circumstances of the loan. On that approach, six-monthly rests at a very high rate were modified to compound interest at 18 per cent per annum with annual rests, while the principal liability was maintained. en-us Tue, 16 Oct 1934 00:00:00 +0530 Thu, 28 Dec 2017 17:31:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197140 The note explains that a mortgage amount recited as having been applied to discharge the borrower's mother's debt was upheld, because the borrower did not effectively dispute the arrangement and the later accounts removed the basis of objection. It also states that, under the Usurious Loans Act, a court may vary compound interest where the bargain is substantially unfair, taking account of risk, security and the circumstances of the loan. On that approach, six-monthly rests at a very high rate were modified to compound interest at 18 per cent per annum with annual rests, while the principal liability was maintained. Case-Laws Companies Law Tue, 16 Oct 1934 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197140