Scofield v. Day

Headnote

Where a promissory note was drawn at Montreal, in the British province of Lower Canada, payable to parties residing in England, " with interest until paid in Eng- that the pkrfntiffs, on a judgment obtained in this Court, makers, are entitled to mterest only up to the time of anV^hat^aci°gairateofinterest in England. They are not entitled to any allowance for the current rate of exchange on England, at the time of the l^Mitio^to the English interest; nor to any other aiaccount of the difference of exchange.

THIS was an action of assumpsit on a promissory note, made by the defendants, at Montreal, in Lower Canada payable to the plaintiffs, (who resided in England,) or to their order, “ with interest until paid in England”

The questions raised for the consideration of the Court were, 1. Whether the plaintiffs were entitled to interest, according to the legal rate of interest in Lower Canada, which . . ° ° ' is six per cent., or according to the legal rate oí interest m England, which is five, per cent, ?

2. Whether the plaintiffs were entitled to interest up to the time when, in the ordinary course of business, the money could be remitted and paid to them in England, or only up to the time of judgme n t?

3. Whether the plaintiffs were entitled to be allowed the current rate of exchange on England, at the time of the judgement, in addition to the interest?