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Section 16 Recovery of loans.

England and Wales

All notes signed for the repayment of such loans shall be made payable to the treasurer for the time being of the society, and may be in the form given in the schedule to this Act annexed marked (A.), or to the like effect; and it shall be lawful for any such society to add to or embody in such note the statement of any allegations made by the parties to such note respecting their goods or property, and all such allegations made under the hand of any such party may be given in evidence against him on any proceeding under this Act; and if the party liable to pay the same shall fail to make full payment in money of the sum in the note mentioned, or any part thereof, after demand in writing made on such party, or left or sent by the post, directed to him at his usual place of abode, or at his place of residence, as described in the said note, by or on behalf of the treasurer for the time being of the said society, any one of her Majesty’s justices of the peace for the county, riding, city, borough, division, district, or place where the person so neglecting to discharge any such note as aforesaid may happen to be or reside, upon complaint made by or on behalf of such treasurer, shall summon the person against whom such complaint shall be made, and after his appearance, or in default thereof, upon due proof upon oath of such summons having been given, left, or sent as aforesaid, shall thereupon proceed to hear and determine the said complaint, and award such sum to be paid by the person thereunto liable to such treasurer as aforesaid as shall appear to such justice to be due thereon, without any rebate of interest, together with such a sum for costs, not exceeding the sum of F125p , as to such justice shall seem reasonable; and it shall be lawful for any such society, if they shall think fit, to direct that the sureties for payment of any loan, or any one or more of them shall be sued for recovery of any loan or instalment thereof in preference to the actual borrower;. . . F2

Annotations

Textual amendments

F1

Words substituted by virtue of Decimal Currency Act 1969 (c. 19), s. 10(1)

F2

Words repealed by Statute Law (Repeals) Act 1981 (c. 19), Sch. 1 Pt. V

Notes on the whole Act

Textual amendments

F1

Act repealed (19.11.1998) by 1998 c. 43, s. 1(1), Sch. 1 Pt. IV Group 4