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)}}{\*\pnseclvl9\pnlcrm\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}\pard\plain \qc \li0\ri0\nowidctlpar\hyphpar0\faauto\rin0\lin0\itap0\pararsid4153138 \f2\fs24\lang5129\langfe5129\cgrid\langnp5129\langfenp5129 {\b\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 IN THE HIGH COURT OF FIJI \par At Labasa \par Civil Jurisdiction \par }{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 \par CIVIL ACTION NO. 7 OF 1992 \par \par Between: \par \par }{\b\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 1.}{\b\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid4153138\charrsid4153138 }{ \b\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 HANIF INDUSTRIES LTD. \par 2. MOHAMMED HANIF s/o Munsaf \par 3.}{\b\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid4153138\charrsid4153138 }{\b\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 HALIMAN d/o Makdum \par }{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 Plaintiffs \par \par - and - \par \par }{\b\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 WESTPAC BANKING CORPORATION \par }{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 Defendant \par }\pard \ql \li0\ri0\nowidctlpar\hyphpar0\faauto\rin0\lin0\itap0\pararsid4153138 {\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 \par Mr. V. Parshuram for the Plaintiffs \par Mr. A. Sen for the Defendant \par \par }\pard \qc \li0\ri0\nowidctlpar\hyphpar0\faauto\rin0\lin0\itap0\pararsid4153138 {\b\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 JUDGMENT \par }\pard \ql \li0\ri0\nowidctlpar\hyphpar0\faauto\rin0\lin0\itap0\pararsid4153138 {\b\f0\ul\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 \par }{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 On the}{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 1st of April 1992}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 the Honourable Chief Justice granted}{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 ex parte}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 an interim injunction restraining the defendant bank from exercising powers under a mortgage and several other securities which the pla intiff company and its directors had given to secure banking facilities provided by the defendant bank to the plaintiff company. \par \par On the}{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 10th of April}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 the injunction was extended until further order and on the}{ \i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 7th of July}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 the defendant bank sought by an}{ \i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 inter partes}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 motion, the dissolution of the injunction.}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid4153138 }{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 On the}{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 10th of July}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 this Court heard the defendant bank's motion. \par \par The plaintiffs' claim as summarised is that it had certain contractual arrangements with the defendant bank for the provision of banking facilities.}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid4153138 }{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 These comprised 2 accounts, a }{\b\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid4153138 '}{ \b\f0\ul\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 Come and Go' Account}{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 (hereafter referred to as the }{ \i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid4153138 '}{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 C & G account')}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 which was predominantly used by the plaintiff company to operate its business and a }{\b\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid4153138 '}{ \b\f0\ul\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 Term Loan' Account}{\b\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 }{ \i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 (hereafter referred to as the }{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid4153138 '}{ \i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 T.L. account')}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 which as the name suggests was for a fixed term loan reduc}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid8014127 e}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 able monthly by a transfer from the }{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid4153138 '}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 C & G' account. \par \par The }{\b\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid4153138 '}{\b\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 contractual arrangements'}{ \b\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 }{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 are said to be primarily contained in a letter written by the manager of the defendant bank on}{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 30th September 1988}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 setting out various terms and conditions under which the bank was willing to grant overdraft facilities to the plaintiff company. \par \par In particular, the bank agreed to an overdraft limit of }{\b\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 $30,000}{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 (subject to annual review)}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 on the}{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 }{ \i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid4153138 '}{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 C & G' account}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 and recorded that the}{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 }{ \i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid4153138 '}{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 T.L.' account}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 would reduce at the rate of }{\b\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 $2,500}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 per month.}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid4153138 }{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 The letter also contained the following relevant}{ \i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 }{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid4153138 '}{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 disclaimer'}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 which reads}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid4153138 :}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 \par \par }\pard \ql \li720\ri0\sa120\nowidctlpar\hyphpar0\faauto\rin0\lin720\itap0\pararsid4153138 {\b\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 "The above arrangements as with all our assistance of this nature are during the pleasure of the bank."}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 \par }\pard \ql \li0\ri0\nowidctlpar\hyphpar0\faauto\rin0\lin0\itap0\pararsid4153138 {\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 \par The plaintiffs were also required to provide }{\b\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 "security" }{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 for the loan facilities in the form of 2 registered mortgages and a debenture over the company's assets and land, }{\b\f0\ul\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 and}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 from the directors, unlimited joint and several guarantees. \par \par It is common ground that the various security documents provided by the plaintiffs are }{\b\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 "on demand"}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 and that such a demand was made on the plaintiff company by letter dated}{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 7th January 1992}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 }{\b\f0\ul\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 and}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 upon the directors by letters dated the}{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 25th of March 1992}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 . \par \par Counsel for the plaintiffs however advanced two arguments in seeking to support the injunction, }{\b\i\f0\ul\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 firstly}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 , it was argued that the plaintiffs had not defaulted in any of their contractual arrangements with or obligations to the defendant Bank such as to amount to a }{ \b\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 "default"}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 that would entitle the defendant bank to call up its securities; }{ \b\f0\ul\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 and}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 , }{ \b\i\f0\ul\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 secondly}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 , if there was a }{ \b\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 "default"}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 on the plaintiffs part}{ \i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 (which was denied)}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 then that arose as a direct result of the defendant bank's actions which it is claimed was in breach of the }{\b\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid4153138 '}{ \b\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 contractual arrangements'}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 made between them and which included the }{ \b\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid4153138 '}{\b\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 custom and practices'}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 of the defendant bank in relation to the plaintiffs' accounts. \par \par Counsel relied in particular on the wording of }{\b\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 Section 77}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 of the }{ \b\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 Property Law Act}{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 (Cap.130)}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 which empowers a mortgagee, where the mortgagor has defaulted under the mortgage for over a month, to serve on the mortgagor }{ \b\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 "... notice in writing to pay the mortgage money ..."}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 (}{ \b\f0\ul\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 i.e}{\b\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 .}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 no default/no demand). \par \par }{\b\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 Section 78}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 provides however that}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid4153138 :}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 \par \par }\pard \ql \li720\ri0\sa120\nowidctlpar\hyphpar0\faauto\rin0\lin720\itap0\pararsid4153138 {\b\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 "Where money secure d by a mortgage is made payable on demand, a demand in writing pursuant to the provisions of the mortgage shall be deemed to be notice in writing to pay the money owing provided by Section 77, and no other notice shall be required to create the default in payment mentioned in Section 79."}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 (Which in turn deals with a mortgagee's statutory power of sale.) \par }\pard \ql \li0\ri0\nowidctlpar\hyphpar0\faauto\rin0\lin0\itap0\pararsid4153138 {\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 \par In this latter regard the relevant mortgage documents are before the Court and each expressly declares in }{\b\f0\ul\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 Clause 1}{ \b\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 :}{\b\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936 \par }{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid4153138\charrsid4153138 \par }\pard \ql \li720\ri0\nowidctlpar\hyphpar0\faauto\rin0\lin720\itap0\pararsid4153138 {\b\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 "1.}{\b\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid4153138 }{ \b\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 THAT the Mortgagor will pay to the Bank }{\b\i\f0\ul\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 on demand}{ \b\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 ... the moneys hereby secured ..." }{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 (my underlining) \par }\pard \ql \li0\ri0\nowidctlpar\hyphpar0\faauto\rin0\lin0\itap0\pararsid4153138 {\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 \par It is noteworthy that a }{\b\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid4153138 '}{\b\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 Section 78 mortgage'}{ \i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 (if it can be so called)}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 does not require a separate }{ \b\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 "default"}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 over and above a failure to make payment upon a written demand before the mortgagee's power of sale becomes exerciseable. \par \par In the circumstances the written demand made by the defendant bank upon the plaintiff company was all that was necessary before the statutory time period of a month began to run under }{ \b\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 Section 79}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 of the }{ \b\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 Property Law Act}{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 (Cap.130)}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 . \par \par Clearly the plaintiffs' first ground cannot be supported having regard to the clear wording of the mortgage documents nor for that matter, by the provisions of }{\b\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 Section 77}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 which is superseded by the more directly relevant provisions of }{\b\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 S ection 78}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 . \par \par The plaintiffs' second ground is a little more complicated in so far as it purports to rely on a }{\b\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 "practice"}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 allegedly adopted by the parties in the manner in which repayments were made into the }{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid4153138 '}{ \i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 T.L.' account}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 .}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936 \par }{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid4153138\charrsid4153138 \par }{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 These were by monthly transfers made by the defendant bank from the plaintiffs'}{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 }{ \i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid4153138 '}{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 C & G' account}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 into its}{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 }{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid4153138 '}{ \i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 T.L.' account}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 . \par \par That being the established }{\b\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 "practice"}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 learned counsel for the plaintiffs submitted that the defendant bank could not unilaterally cease to make the transfers as it purported to do in}{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 February 1991}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 .}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid4153138 }{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 In so doing it is claimed the defendant bank caused the plaintiffs}{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 }{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid4153138 '}{ \i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 T.L.' account}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 to fall into arrears as the}{ \i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 }{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid4153138 '}{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 usual'}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 monthly repayments were no longer being made. \par \par I confess that this argument is unsupportable on the documents disclosed or by any judicial authority.}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936 \par }{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid4153138\charrsid4153138 \par }{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 Certainly none was cited to the Court by learned counsel for the plaintiffs. \par \par As already pointed out the overdraft facilities provided in the defendant bank's letter of}{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 30th September 1988}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 were clearly expressed to be }{\b\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 "... during the pleasure of the Bank"}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 .}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid4153138 }{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 Furthermore }{ \b\f0\ul\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 Clause 1}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 of the mortgage documents provides}{ \i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 inter alia}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid4153138 :}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 \par \par }\pard \ql \li720\ri0\nowidctlpar\hyphpar0\faauto\rin0\lin720\itap0\pararsid4153138 {\b\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 "1.}{\b\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid4153138 }{ \b\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 THAT the Mortgager will pay to the Bank on demand the moneys hereby secured ... }{ \b\i\f0\ul\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 unless there is an agreement in writing to the contrary}{\b\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 .. }{ \b\i\f0\ul\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 between the Mortgagor and the Debtor}{\b\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 ..."}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 (my emphasis) \par }\pard \ql \li0\ri0\nowidctlpar\hyphpar0\faauto\rin0\lin0\itap0\pararsid4153138 {\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 \par No such agreement in writing has been produced to the Court to indicate that the monies lent were payable other than }{\b\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 "on demand"}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 nor was counsel able to point to any paragraph in the defendant bank's letter of}{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 30th of September 1988}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 in which the bank contractually bound itself to make the monthly transfers from the plaintiffs'}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid4153138 }{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid4153138 '}{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 C & G'}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 account to the}{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 }{ \i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid4153138 '}{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 T.L.'}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 account irrespective of the }{\b\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid4153138 '}{\b\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 Status'}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 of the}{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 }{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid4153138 '}{ \i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 C & G'}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 account. \par \par The gist of counsel's submission however was that this was an implied term of the }{\b\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid4153138 '}{\b\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 contractual arrangements'}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 between the plaintiff company and the defendant bank and could not be determined at the bank's pleasure. \par \par With respect such a term is unlikely to be implied in the face of express terms to the contrary }{\f0\ul\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 nor}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 in my considered view could it be considered reasonably necessary to give business efficacy to the transaction. \par \par Indeed as learned counsel for the defendant bank correctly points out such an implied term would impose on the defendant bank all the perils of the transaction and emancipate the plaintiff company from all chances of failure.}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid4153138 }{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 To put it bluntly the bank would in effect be placed in the wholly unreasonable position of having to refurbish the plaintiffs' loan from its own money. \par \par In the foregoing I have dealt at length with the issues raised in the plaintiffs' submissions before the Court and am driven to the conclusion that the plaintiff has failed to establish a }{ \b\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid4153138 '}{\b\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 triable issue'}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 in regard to the exercise by the defendant bank of its powers of sale under the various mortgages. \par \par If I am wrong however then I would have no hesitation in holding that damages would be an adequate remedy for the plaintiff company in the unlikely event that it is shown that a permanent injunction should have been granted. \par \par In the result there is no need for the Court to consider the well established principle that requires a mortgagor to tender or pay into Court the full amount of the mortgage principal and interest claimed as a condition which the Courts will normally impose upon any injunction to prevent the exercise of a power of sale. \par \par The motion of the defendant bank is upheld and the injunction granted by the Court on the}{\i\f0\expnd0\expndtw-2\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 1st of April 1992}{ \f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 is hereby dissolved with costs to the defendant to be taxed if not agreed. \par \par }\pard \qc \li0\ri0\nowidctlpar\hyphpar0\faauto\rin0\lin0\itap0\pararsid4153138 {\b\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 (D.V. Fatiaki) \par }{\b\f0\ul\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 JUDGE}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 \par }\pard \ql \li0\ri0\nowidctlpar\hyphpar0\faauto\rin0\lin0\itap0\pararsid4153138 {\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 \par }{\b\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 At Labasa, \par 6th October, 1992.}{\f0\expnd0\expndtw-3\lang2057\langfe5129\langnp2057\insrsid6302936\charrsid4153138 \par }\pard \qr \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid10906673 {\f0\lang2057\langfe5129\langnp2057\insrsid10906673\charrsid8588959 HBC}{\f0\lang2057\langfe5129\langnp2057\insrsid10906673 0007J.92B}{ \f0\lang2057\langfe5129\langnp2057\insrsid10906673\charrsid8588959 \par }}