Mason & Wood Ltd v Greene & Wife
Moneylending – Memorandum of contract – Rate of interest – Moneylenders Act 1927 (c 21)
s 6.
The memorandum of a moneylending contract stated that there was an advance of £50 upon a
promissory note for £70 and that “the amount of principal being advanced in respect of the
promissory note for £70 is £50 and the interest charged on £20 is equivalent to interest at the
rate of £64 per cent. per annum”:—