R. MUTHIAH THEVAR Vs. P. LAKSHMANAN PANDITHAR

JUDGEMENT

(1.) THE respondent executed on the 9th of November, 1938, in favour of one Subbamma a promissory note for Rs. 240 agreeing to pay interest at the rate of 12 per cent. per annum. There were two payments made to Subbamma, one of Rs. 100 on 4th November, 1941, and the other of Rs. 150 on 22nd July, 1943. The promissory note was transferred by Subbamma to the petitioner on 22nd July, 1945. In his plaint the petitioner gave credit to both the payments but he calculated interest at the contract rate and adjusting the payments made on that basis he claimed Rs. 160 as due to him on 7th March, 1946. The suit was filed four days later on nth March, 1946.

(2.) THE defendant -respondent alleged other payments but these were not made out and nothing was said about these payments at the hearing of the civil revision petition. The lower Court dismissed the petitioner's suit on the ground that the two payments were open payments and that they should therefore be adjusted towards the principal and as taken together they were in excess of the amount of principal there was nothing due to the petitioner. It may be observed in passing that the two payments were endorsed by the respondent on the promissory note on their respective dates as made towards the principal and interest due on the promissory note.

(3.) MR . Srinivasan, counsel for the respondent, frankly conceded that he cannot support the reasons given by the lower Court for the dismissal of the suit.