A bank’s borrower’s covenant to pay interest is ordinarily to be taken to continue until the full sum of principal is repaid, after as before judgment. An appeal was allowed from the order of the sheriff in an undefended action for repayment of a loan, the sheriff having ordered payment of interest from the date of judgment at a rate lower than the contractual rate until payment. The court saw no reason why the contractual rate should not apply also after judgment.
1982 SLT 20
Cited – Director General of Fair Trading v First National Bank Plc CA 15-Sep-1999
A bank had a clause in its standard terms which provided that it could continue to recover interest at the contract rate after judgment for default. The clause was an unfair term. The clause allowed a bank to impose an arrangement for repayment by . .
Lists of cited by and citing cases may be incomplete.
Updated: 08 May 2022; Ref: scu.445466