Usury, Bills of Lading, and Written Memoranda Act 1902 (NSW)

Act No. 43, 1902.

U 8 0BV, B ill , of All Act to coDsolidatc enactments relatina; to

Lading, and ̂ ^

W ritten

Memoranda.	usury, interest, and to certain instruments
and contracts. [21ŝ August, 1902.]

T ) E it enacted by the King’s Most Excellent Majesty, by and with J D the advice and consent of the Legislative Council and Legislative Assembly of New South Wales in Parliament assembled, and by the authority of the same, as follows :—

Short title. 1. This Act may be cited as the “ Usury, Bills of Lading, and \Vritten Memoranda Act, 1902.”

Repeal. 2. The enactments mentioned in the Schedule to this Act ai’e,

the extent therein expressed, hereby repealed.

Usury and interest.

Imperial usury Acts.

5 Wm. IV. No. 10, 3. No Imperial Act relating to usury shall extend or be deemed

8. 1.	applicable to New South Wales.
Interest allowed
where no rate 6ied.	4. In all cases where interest for the loan of money or npon any other contract may be recovered in any action or suit, the amount so recovered shall not, where the rate of interest has not been previously agreed upon by the parties, exceed eight per centum per annum.
Ibid. s. 2.

Bitls o f lading.

Rights under bills of 6 . Evci’y consigncc of goods named in a bill of lading, and

signef or rndoraeT.'̂ endorsee of a bill of lading to whom the property in the goods

20 Vic. No. 13, s. 1. therein mentioned shall pass upon or by reason of such consignment

or endorsement, shall have transferred to and vested in him all rights of

• suit and be subject to the same liabilities in respect of such goods, as if the contract contained in the bill of lading had been made with himself.

Act No. 48, 1902. 3G1

Usury, Bills o f Lading, and Written Memoranda.

6. Nothing liercia contained shall prejudice or affect any right Not to affect right of

of stoppage in transitu, or any right to claim freight against the original o*i°ciahrVfh

shipper or owner, or any liability of the consignee or endorsee, by reason 33 yî xo. 13 » 2.

or in consequence of his being such consignee or endorsee, or of liis

receipt of the goods, by reason or in consequence of such consignment

or endorsement.

7. Every hill of lading in the hands of a consignee or endorsee Bill of lading in

for valuaTilc consideration representing goods to have been shipped on

hoard a vessel shall be conclusive evidence of such shipment as against evidence of the

tlic master or other person signing tlie same, notwithstanding that such agumst

goods or some part thereof may not have been so shipped, unless such	̂ ̂
holder of the hill of lading has had actual notice, at the time of receiving the same, that the goods had not been in fact laden onboard.

Guarantees.

8 . No special promise made after the twenty-first day of Considoraiion for

November, one thousand eight hundred and eighty-two. by any person ̂ ̂ ^

to answer for the default or miscarriage of another person being in '	.............
writing and signed by the party to be charged therewith or some other person by him thereunto lawfully authorised shall be deemed invalid to support an action, suit, or other proceeding to charge the person by whom such promise has been made by reason only that the consideration for such promise does not appear in writing or by necessary inference from a written document.

Memoranda in loriling.

9. No action shall he maintained whereby to charge any neWs and contracts

person— . I wl^iv no 17

(«) upon any promise made after full age to pay any debt adopting y Oco. I’v,

contracted during infancy, or < '• ’4̂- ®

(i)   upon any ratification after full age of any promise or simple contract made during infancy,

unless such promise or ratification is made by some writing signed by

the party to be charged therewith.

10. No action sliall be brought whereby to charge any person Ropresentntions of

upon or by reason of any representation or assurance made or given

concerning or relating to the character, conduct, credit, ability, trade ̂	•
or dealings of any other person to the intent or purpose that such other person may obtain credit, money, or goods upon, unless such representation or assurance is made in writing signed by the party to be charged therewith.

11. So much of the Imperial Act passed in the twenty-ninth Evecutorv contracts

year of the reign of King Charles the Second, intituled “ An Act for

the prevention of frauds and perjuries,” as enacted that no contract ' ’

for

302   Act No. 43, 1902.

Usury, Bills o f Ladinf, and Written Memoranda.

for the sale of any goods, wares, and mercliandises for the price of ten pounds sterling or upwards shall he allowed to he good except the buyer shall accept part of the goods so sold and actually receive the same or give something in earnest to bind the bargain or in part of payment, or that some note or memorandum in writing of the said bargain be made and signed by the parties to be charged by such contract or their agents thereunto lawfully authorised,” shall extend to all contracts for the sale of goods of the value of ten pounds sterling and upwards, notwithstanding the goods may he intended to he delivered at some future time, or may not at the time of such contract be actually made, procured, or provided, or fit or ready for delivery, or some act may he requisite for the making or completing thereof or rendering the same fit for delivery.

Exemption from	12.	No memorandum or other writing made necessary by
stamp duties.

4 Wm. IV No. 17, sections nine, ten, or eleven shall he deemed to be an agreement within

adopting 9 Geo.^IV, tlic meaning of any Act relating to stamp duties.

c. 14, s. 8.

SCHEDULE.

Number of Act. Title. Extent of repeal.

4 Wm. IV No. 17 An Act for adopting and applying a The unrepealed portion so far

certain Act of Parliament for ren­	as it adopts sections 5, (5, 7,
dering a written memorandum	8, 9 and 10 of 9 Geo. IV, c.
necessary to the validity of certain	14.
promises and engagements.

5 W in, IV JNo.lO An Act for removing doubts respect­ ing the application to New South Wales of the Laws and Statutes of England relating to usury and to limit and define the rate of interest which may be recovered in cases where it hath not been previously agreed on between the parties. The whole.

20 Vic. No. 13 ... An Act to amend the law relating to The whole.

Bills of Lading.

4(5 Vic. No. 4 ... An Act to amend the law relating to The whole.

Guarantees.

Act