The original dispute involved an unpaid bank loan which had been guaranteed. A key question in this case was what legislation covered the transaction. It was confirmed that a transaction which was entered into or completed before a piece of legislation was entered into would not be covered by that legislation if it did not deal with matters of public policy. The case also considered whether there was a limitation on the interest for late payment and that the lower court had failed to follow the logic in the evidence when giving its ruling.