This section of the book is from the "Canadian Banking Practice" book, by John T. P. Knight.
Question 352.— Has the legal rate of interest been reduced from 6 per cent. to 5 per cent. ?
Answer.—Yes. The legal rate of interest for liabilities incurred since the date of the passing of the Amending Act (7th July, 1900), is 5 per cent. See Statute of Can. 63-G4 Vic., cap. 29.