RANGA PILLAI Vs. NARASIMHA AYYANGAR

JUDGEMENT

(1.) IT is contended for appellant that the words at whatever cultivation season in the month of Chittirai in any year after the stipulated period of ten years. I may pay the principal amount, you shall at that time receive the amount" contain an implied covenant to pay at the end of ten years. This stipulation as to payment is one entirely for the benefit of the mortgagor for it allows him to choose his own time for payment if he wishes to pay. To construe this as a personal covenant to pay at the end of ten years which the mortgagee could enforce at once would be to destroy the whole benefit of the stipulation so far as the mortgagor is concerned. We are not, therefore, prepared to read into the words a covenant which would destroy the whole effect of the express arrangement between the parties. There are no other recitals in the deed to suggest that there was any personal covenant, and therefore, we agree with the Subordinate Judge s finding that there is none.

(2.) AS this is the only point argued the second appeal is dismissed with costs.