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Judgment
5 paragraphs · 111 words
Wadsworth, J.—The account starting in 1933 has a series of settlements, each giving rise to a fresh principal. The lower Court has given a
decree on the basis of the last settlement with interest thereafter at 5 per cent. on the amount so settled u/s 9 of Act IV of 1938. This is correct.
Unless a debt falling u/s 9 relates back to a debt incurred before 1st October, 1932, so as to invoke the provisions of Section 8, there is nothing in
Section 9 to justify the re-opening of settlements or the re appropriation of payments on the basis of a hypothetical original principal. The petition is
dismissed with costs.