The Pall Mall Bank (Ltd) v. Philp [1904] ScotLR 41_621 (14 June 1904)

The Pall Mall Bank (Ltd) v. Philp [1904] ScotLR 41_621 (14 June 1904)

The court held that, in the circumstances, the rate of interest was not excessive nor the transaction harsh and unconscionable within the meaning of section 1 of the Money-Lenders Act 1900, and granted decree to the pursuers.

Citation
[1904] ScotLR 41_621
Parties
Pursuer: The Pall Mall Bank (Limited); Defender: Mrs Philp (represented by trustee in bankruptcy)
Jurisdiction
Scotland
Judgment Date
14 June 1904
Procedural Posture
Civil / Judgment After Proof
Outcome
decree granted for pursuers
Legal Topics
Money Lending, Excessive Interest, Unconscionable Transaction, Money Lenders Act 1900
Contract Law Banking and Finance Money Lending Excessive Interest Unconscionable Transaction Money Lenders Act 1900

Case Brief

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Parties

The Pall Mall Bank (Limited)

Pursuer

Mrs Philp (represented by trustee in bankruptcy)

Defender

Procedural Posture

Civil / Judgment After Proof

Legal Issues

  1. 1 Whether the interest rate and terms of the loan were excessive or unconscionable under section 1 of the Money-Lenders Act 1900
  2. 2 Whether the pursuers were entitled to decree for the sums claimed

Ratio Decidendi

The court held that, in the circumstances, the rate of interest was not excessive nor the transaction harsh and unconscionable within the meaning of section 1 of the Money-Lenders Act 1900, and granted decree to the pursuers.

Court Disposition

decree granted for pursuers

Orders

  • Defender to pay the sums claimed by the pursuers