B S Lyle Ltd v Pearson and Medlycott The plaintiffs, registered moneylenders, lent a borrower £100 on 14 March 1939, on a joint promissory note of the borrower and a surety, the interest being 150 per cent per annum. On 13 June 1939, a further £200 upon the same terms was borrowed. At some time prior to 1 January 1940, a sum of £75 was repaid.