Word 'Rest' - Indian Laws - General

Rest In the Stroud s Judicial Dictionary , the meaning of rest has been given as follows: A rest, in taking an account, is a pause at which the net balance between receipts and expenses is ascertained, so that interest may be abated or charged according to the finding; e.g. as between mortgages in possession and his mortgagor ......... In Paget s Law of Banking , 132, there is a reference to the meaning of rest given by Lord Atkinson in Yourell v. Hibernian Bank 1918 AC 372 in the following terms. The bank, by taking the account with these half-yearly rests, secured for itself the benefit of compound interest. This is a usual and perfectly legitimate mode of dealing between banker and customer. BANK OF INDIA VERSUS KARNAM RANGA RAO AND ORS. - 1985 (11) TMI 237 - KARNATAKA HIGH COURT