A pawnbroker was liable to pay interest on excess funds recovered in its capacity as trustee. The court ordered an enquiry: ‘. . . as to what use was made by the defendant of the proceeds of sale and what return was obtained by him on those monies in order to determine the rate of interest to be applied.’
Judges:
Chadwick J
Citations:
Independent 23-Jun-1994, Times 22-Jun-1994
Jurisdiction:
England and Wales
Cited by:
Cited – Penelope Wilson v Howard (Pawnbrokers) Ltd CA 4-Feb-2005
The customer challenged a series of pawn agreements. The broker appealed the finding that the contracts were invalid, on the basis that the judgment had created an unjust enrichment.
Held: The appeal failed: ‘in pawn transactions the debtor is . .
Lists of cited by and citing cases may be incomplete.
Consumer, Banking
Updated: 04 June 2022; Ref: scu.83479
