TMI Blog1913 (12) TMI 1X X X X Extracts X X X X X X X X Extracts X X X X ..... alance due to him from the first Appellant and also that the first Appellant had not credited the Respondent with certain profits made by discounting promissory notes at the Banks for firms in which the second Appellant was a partner. Ultimately all the parties to the present suit agreed that these disputes should be referred to two other moneylenders named Romanathan Chetty and Mutu Ramen Chetty, who, after the completion of the investigation drew up, on the 30th August 1909, what has been termed a receipt, which the Appellants signed, the Arbitrators witnessed and the Respondent accepted and acted upon. This document deals seriatim with seven sums thereby admitted to be due from the Appellants to the Respondent amounting in all to ͅ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s Accord and Satisfaction by a Substituted Agreement No matter what were the respective rights of the parties inter se they are abandoned in consideration of the acceptance by all of a new agreement. The consequence is that when such an accord and satisfaction takes place the prior rights of the parties are extinguished. They have in fact been exchanged for the new rights; and the new agreement becomes a new departure, and the rights of all the parties are fully represented by it. 3. There appears to be no doubt that it was the intention of all the parties that the sums for which the promissory notes were given should bear what is known as Chetty interest, which is at a rate dependent on the current Bank rate, and would in the present ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hed by the acceptance of the new Agreement. 6. At the trial of the Action, the District Judge found in favour of the Appellants, on the ground that the two promissory notes were given in absolute payment of the debt, and that, therefore, no remedy remained to the Respondent, excepting upon those notes. On Appeal, the Judges of the Supreme Court held that the notes were only accepted as a conditional discharge, so that they only amounted to payment if paid, and that, inasmuch as they had not been paid, the original debt of ₹ 28,000 remained. They accordingly allowed the Appeal. It is from this decision that the present Appeal is brought. 7. Their Lordships are of opinion, as has already been stated, that the form of the claim was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ction in full :-- Every action shall include the whole of the claim which the Plaintiff is entitled to make in respect of the cause of action; but a Plaintiff may relinquish any portion of his claim in order to bring the action within the jurisdiction of any Court. If a Plaintiff omits to sue in respect of or intentionally relinquishes any portion of his claim, he shall not afterwards sue in respect of the portion so omitted or relinquished. A person entitled to more than one remedy in respect of the same cause of action may sue for all or any of his remedies; but if he omits (except with the leave of the Court obtained before the hearing) to sue for any of such remedies, be shall not afterwards sue for the remedy so omitted. For t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e object and meaning of this section. It is directed to securing the exhaustion of the relief in respect of a cause of action, and not to the inclusion in one and the same action different causes of action, even though they arise from the same transactions. The first part of the clause makes it incumbent on the Plaintiff to include the whole of his claim in his action. The second portion makes it incumbent on him to ask for the whole of his remedies. The final paragraph, in their Lordships' opinion, is not intended to be an illustration of the foregoing provisions, but a substantive enactment, making an obligation and a collateral security for its performance (which would otherwise be two independent causes of action) one cause of actio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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