Estate of Lyons: Claim of Munster and Leinster Bank

Judgment Date01 January 1940
Date01 January 1940
CourtLand Commission (Ireland)
Estate of Lyons: Claim of Munster and Leinster Bank

No operations on account for long period - Half yearly statements furnished by bank - Such statements sufficient to keep account open.

The fact that a bank has furnished half yearly statements of account to a customer and obtained statements from him acknowledging his indebtedness, is sufficient to raise a presumption that the account is still open. A bank claimed an equitable mortgage by the deposit of a Land Judges' conveyance. The account of the customer was not operated upon after 31st December, 1925. The bank claimed compound interest up to the Appointed Day (which was some considerable time later than 31st December, 1925), when the land vested in the Land Commission. They based this claim on inter alia the fact that they had furnished half-yearly statements showing compound interest, and...

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