The Interest Act, R.S.C. 1906, c. 120, also contains a provision (s. 10) that whenever any principal money or interest secured by a mortgage of real estate is not, under the terms of the mortgage, payable till a time more than five years after the date of the mortgage, any person liable to pay or entitled to redeem may thereafter tender or pay to the person entitled to receive the money the amount due for principal or interest to the time of payment, together with three months' further interest in lieu of notice, and in that event no further interest shall be chargeable, payable or recoverable at any time thereafter on the principal money or interest due under the mortgage

(j) Wrigley v. Gill, [1906] 1 Ch. 165.

(k) See chapter 11, Assignee of the Mortgage, Sec. 104.

(l) Thomas v. Girvan, 1897, 1 N.B. Eq. 257.

(m) See chapter 24, Action for Foreclosure or Sale, Sec. 241.

Apart from statute, and as a general rule, where it may be inferred from the transaction that the loan is intended to be of a permanent character, a mortgagor must, after default in payment on the day, give to the mortgagee six months' notice of his intention to pay off the mortgage or pay six months' interest in lieu of notice. This rule has, however, been modified by statute in Ontario (o).