(1820) 6 Paton 616
CASES DECIDED IN THE HOUSE OF LORDS, UPON APPEAL FROM THE COURTS OF SCOTLAND.
House of Lords,
Subject_Interest — Foreign Rate — Res Judicata. —
(1) Held, that, in
making a claim against a solvent partner of a firm, who had at one time acted as agents in Calcutta for the party claiming, and had in that capacity uplifted Indian Bonds, he was entitled to charge 12 per cent., being the India rate of interest up to 13th November 1813, and to 5 per cent, thereafter. (2) That a former decree was not res judicata on the question.
This appeal arose out of a former appeal between the same parties, ( vide Dow, vol. ii., p. 17) in which the interlocutors of the Court below were affirmed.
The action had been brought for payment of a large sum of East India Bonds, deposited in the hands of the Company of Graham, Crommeline and Moubray, Agents in Calcutta, by Mr Keble on the eve of leaving India. The partnership had changed subsequent to this deposit, first, by the retirement of Mr Crommeline in 1787, after which Graham and Moubray continued the firm, with the possession of these funds, and, second, the retirement of the appellant, Graham, in 1791, after which event, the firm of Graham, Moubray, and Company failed, with the proceeds of these India Bonds in their hands.
The former action and appeal was, as to Graham's liability to make good the amount of this India Stock. The Court of Session and the House of Lords held him liable.
On the case coming back from the House of Lords, a state was given in which the foreign or Indian rate of interest was charged at 12 per cent., from the different periods at which the bonds had been uplifted by them, calculated down to 12th November 1813, the said sum, inclusive of interest charged at the said foreign rate, amounting to£19,413, 16s. 2d. The respondents, besides claiming this foreign rate of interest up to 12th November 1813, claimed interest on that sum, at the rate of 5 per cent., until paid, and, in support of this claim, it was concluded that the matter was res judicata by the former appeal.
June 28, 1814. Dec. 2, 1814. Dec. 22, 1814. Nov. 15, 1815. Feb. 13, 1816. Mar. 8, 1816.
The Lord Ordinary and the Court allowed the foreign or Indian rate of interest, up to that date and interest on the accumulated sum at 5 per cent, thereafter.
Against these interlocutors the present appeal was brought to the House of Lords.
After hearing counsel,
Journals of the House of Lords.
It was ordered and declared, that the appellant is to be charged with interest at the rates following, viz., with
Counsel: For the Appellant,
For the Respondents, Sir Saml. Romilly, James Gordon.