Read the full judgment text of HCA 000814/1969 on BabelCite. This High Court CFI judgment was delivered on 24 October 1973.
1. The 1st defendant in these proceedings was a client of the plaintiffs, a bank now in liquidation. He was granted over-draft facilities to the extent of $20,000. By an undertaking dated the 23rd November, 1962 he undertook to repay on the 22nd February, 1963 or at any time when called upon to repay all sums due on the general balance together with interest at the rate of 40 cents per $1,000 per day; the 2nd defendant signed as a guarantor.