The mortgagee appealed the trial judge's decision to reduce the interest rate on the mortgage and deny costs.
The Court of Appeal allowed the cross-appeal, holding that the mortgagee was entitled in law to the interest rate called for in the mortgage, and that delay in bringing the action within the limitation period did not justify a reduction.
The court also awarded costs of the trial and the appeal to the mortgagee, noting that success was no longer divided and the judgment exceeded the offer to settle.
