Chennai Court February 1928 Judgments

R.M. Nagarathna Mudaliar and ors. Vs. S.M. Chidambaram Chettiar and or ...

Court: Chennai

Reported in: AIR1928Mad860; 113Ind.Cas.129

Kumaraswami Sastri, J.1. This appeal arises out of a suit for specific performance filed by the plaintiffs against defendants 1 to 6.2. The case for the plaintiffs is that defendants 1 to 3 were carrying on business as merchants, that there were dealings between the plaintiffs and defendants 1 to 3, such dealings consisting in the plaintiffs advancing moneys to the defendants and also standing sureties for them in the Bank of Madras, that about the date of the agreement to sell, evidenced by Ex. A, about Rs. 18,000 was due to the bank in respect of the suretyship transaction, that Rs. 8,000 odd was due to the plaintiffs themselves by defendants in respect 'of moneys given as loans, that the defendants wanted money to pay some other pressing debts and asked for a loan and that Rs. 8,000 odd was advanced in cash and that for this sum of Rs. 35,000, made up of these transactions referred to, the defendants executed a promissory note filed as Ex. B in the case and an agreement to sell ten ...