Victoria Printing Press Limited v Many
Victoria Printing Press Limited v Many (Civil Case No. 149 of 1939) [1938] EACA 182 (1 January 1938)
The court held that the requirements of section 10 of the Moneylenders Ordinance, 1932, were satisfied because the memorandum of agreement expressly referred to the debenture, a copy of which was attached and delivered to the borrower at the time of execution. The court distinguished prior authorities where the borrower had not received a copy of the security, emphasizing that the borrower in this case was fully aware of the terms, including any onerous provisions. The court found that it is permissible for the statutory memorandum to consist of more than one document, provided there is a cle…
Source excerpt
- Moneylending Regulation
- Statutory Memorandum Requirements
- Secured Transactions
- Debenture Enforceability