Arnold v State Bank of South Australia [1992] FCA 554

In Arnold v State Bank of South Australia [1992] FCA 554 the applicants sought to block a foreclosure on their farm, alleging that “… the mortgage involved the creation by the State Bank of a book-entry credit at no cost to itself.”, so the loan was unsupported by consideration. It was further contended that the Magna Carta guaranteed right to a home and livelihood, and that because judges swear an oath of office on the Bible it makes them subject to biblical law, including those biblical passages striking directly at usury.

Click to access re-owen-roy-arnold-and-jennifer-dianne-arnold-v-state-bank-of-south-australia-david-warhurst-wayne-maddaford-ronald-george-france-and-graham-m-connor-1992-fca-554.pdf