K VENKAT REDDIAR AND CO Vs. DESIKACHARIAR

JUDGEMENT

(1.) The plaintiff is the petitioner. The plaintiff's suit was to recover principal and interest on account of dealings carried on between him and the defendant from the 22 May, 1916 to the 10 of December 1922. The plaintiff has been given a decree for Rs. 196 but he has not been awarded interest on that amount. The question in this case is whether the lower Court was wrong in refusing interest to the petitioner. Interest is claimed under the Interest Act, and on general principles of law.

(2.) In view of the finding that there was no demand for interest by the plaintiff, the plea that he is entitled to interest under the Interest Act cannot be accepted.

(3.) The next question is whether the plaintiff is entitled to interest on general principles of law. It is well-known that, under the rules, of English Common Law interest is not due on money, unless interest was intended to be paid or unless it is implied from the usage of trade, as in the case of mercantile instruments. Applying this principle, the petitioner is not entitled to interest in this case because the learned Judge in paragraph 4 finds that Lithe parties commenced dealings on the assumption; that no interest would be demanded. This finding that interest was not intended to he paid is supported by the evidence of D.W. 1. Accepting this finding, I am of opinion that plaintiff is not entitled to interest even under the general principles of the Common Law.