The Ontario Reports : Containing Reports of Cases Decided in the Queen's Bench And Chancery Divisions of the High Court of Justice for Ontario 8 (1885)
The Ontario Reports : Containing Reports of Cases Decided in the Queen's Bench And Chancery Divisions of the High Court of Justice for Ontario 8 (1885)
Ontario. High Court of Justice
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Wms. at p. 458, Lord Chancellor Parker stated that a mortgagee, " by getting reports of the money due, might make his interest prin- cipal, as it must be after the report confirmed.*' And in Broivn v. Barlcham, 1 P. Wms. 652, he said : " It is true, a Master's report, computing interest, makes that interest principal, and to carry interest; for a report is a judgment of the Court" The observations of Lord Loughborough, in Creuze v. Hunter, 2 Yes. Jr. at p. 159, are to the same effect: *' In the... case of a mortgage the ground is plain. The estate belongs to the mortgagee : it is forfeited ; the owner comes here to redeem ; the Court orders payment on such a day, and that he shall redeem ; he lets that time elapse ; of course he must pay interest." The House of Lords, in Rdly v. Lord BeUew, 4 Bro. P. C. 495, varied a decree of the Irish Court of Chancery, where there had been delay in carrying it out, by direct- ing a computation of interest in a mortgage case on the whole sum found due by the Master's report, on which the decree had been made, instead of on the principal money secured by the mortgage.
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