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ΠΑΓΚΥΠΡΙΟΣ ΔΙΚΗΓΟΡΙΚΟΣ ΣΥΛΛΟΓΟΣ
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(V11) 1 CLR 122
1924 May 26
[FISHER, C.J. AND GRIMSHAW, P.J.]
ARETI G. VONTITSIANO
v.
1. GEORGHIOS KTORIDES
2. MARIA KTORIDES.
ACTION ON BOND- "UNTIL FINAL PAYMENT" -DELAY-INTEREST IN ADVANCE-PRESCRIPTION-NON-PROTEST-NOVATION.
In November, 1916, Plaintiff advanced money to 1st Defendant on a bond. 2nd Defendant was guarantor. The bond was "until final payment." The bond fell due in 1917. Plaintiff did not protest the bond, but allowed Defendant 1 to pay up the interest due to date. From time to time Defendant 1 paid up the accrued interest until November, 1922, when Plaintiff demanded that Defendant 1 should pay not only the interest accrued but also interest for twelve months in advance, the latter interest being finally paid by Defendant 1 in July, 1923. Apparently Defendant 2 never asked about the bond, nor was given any information by the Plaintiff. The two Defendants are brother and sister and Plaintiff is a relative of both.
The District Court held that the bond was a commercial bond and was prescribed, and gave judgment for the two defendants. From this judgment the plaintiff appealed.
For Appellant (plaintiff) Triantafyllides and Themistocles.
For Respondents (defendants) Paschalis.
Judgment: Reversing judgment of the District Court. Appeal allowed. Judgment to be entered for plaintiff as claimed less £5 17s. 7cp. interest paid in advance, with costs of appeal.