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ΠΑΓΚΥΠΡΙΟΣ ΔΙΚΗΓΟΡΙΚΟΣ ΣΥΛΛΟΓΟΣ
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(V11) 1 CLR 56A
1922 February 11
[FISHER, C.J. AND STUART, P.J.]
POLYKARPOS CHRISTOPOULOS
v.
IMPERIAL OTTOMAN BANK.
EXCHANGE-CYPRUS COINAGE ORDER, 1900-PROCLAMATION CYPRUS GAZETTE, 8TH SEPTEMBER, 1914.
Appeal of Plaintiff from the judgment of the President of a District Court sitting as a Village Judge dismissing a claim by Plaintiff for an amount of £1 18s. 4cp. deducted by the Defendant Bank locally (as exchange) on a cabled order to pay Plaintiff £70 sent by the London branch of Defendant Bank.
For Appellant Paschalis.
For Respondent Artemis.
Facts as set out above.
Artemis: Payment was to be £70 English. English paper not legal currency in Cyprus. Where two paper currencies there must be "exchange."
Paschalis: Paper money equals coins (proclamation in Gazette, 8th September, 1914, cl. 2, 6 and 7). £1 Cyprus paper equals 1 sovereign gold. So does £1 English paper. Therefore no exchange.
Judgment: We find the bank admit holding £70. The only question is whether there are legal grounds for taking "exchange" £70 paper is equivalent to seventy sovereigns. The Defendant Bank has not shown a legal right to claim exchange, therefore we allow the appeal and give judgment for Plaintiff as claimed with costs.